Vodafone quiet over E24bn takeover report

MOBILE phone giant Vodafone has remained tightlipped over a report that it is preparing to launch a $30 billion (E24 billion) bid for American mobile giant AT&T Wireless.

Chief executive Arun Sarin is understood to have ordered financial advisers to draw up a draft document to help persuade investors that the acquisition makes commercial sense.

A successful bid for the firm would be Vodafone’s biggest acquisition since it bought German rival Mannesmann for about E143bn in 1999, according to reports.