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Article: Engaged in speculation.
- Article from:
- Investors Chronicle - magazine and web content
- Article date:
- June 5, 2007
CopyrightCOPYRIGHT 2007 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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With the reporting season for the leading telcos now over, the market has turned to bid speculation. But could private-equity really buy Vodafone? Tim Bradshaw
Last month, Vodafone, BT and Cable & Wireless (C&W) all had their results hijacked by a single event in the US: the acquisition of mobile provider Alltel by a private-equity consortium for about $27.5bn (GBP13.9bn). Private equity bidders are often linked to telecoms companies, because of their strong cash generation, low valuations and potential for restructuring. But are the telecom sector's gains since the Alltel deal - an average of around 9 per cent - sufficiently grounded in reality to be ...