Vodafone shares up 6% after pulling out of bidding for US operator

SHARES in mobile phone giant Vodafone rose sharply yesterday after it said it had pulled out of the multi-billion pound auction for US operator AT&T Wireless.

The group, which is believed to have submitted a bid worth £18 billion, said it withdrew from the race this morning after deciding it was no longer in the interest of shareholders.

Vodafone had been locked in the bidding war with US rival Cingular after first revealing its interest in AT&T last week.