Vodafone keeps watch on AT&T

Vodafone announced this morning that it is continuing to monitor developments in the US market and is exploring whether a potential transaction with AT&T Wireless is in the interests of its shareholders.

The announcement follows weekend news reports which speculated that the phone operator was ready to spend at least $30bn (€23.5bn) on the US group.

Bids for AT&T Wireless must be in by Friday.

According to analysts, the most likely winner of the auction is Cingular, a joint venture of phone companies SBC Communications and BellSouth.