AT&T’s Stephenson, EU’S Kroes Said to Meet in Davos
AT&T Inc. (T) Chief Executive Officer Randall Stephenson took advantage of the World Economic Forum this week to discuss potential European acquisitions with the region’s top telecommunications official, according to a person with knowledge of the matter.
Stephenson met informally in Davos, Switzerland with European Union digital commissioner Neelie Kroes, the people said, asking not to be identified discussing a private matter. As in several earlier meetings over the last year, they discussed the possibility of an AT&T bid for Vodafone Group Plc (VOD) or another European carrier, as well as regulatory issues, the person said.
AT&T, the second-largest U.S. mobile operator, is looking to Europe for growth as its home market becomes more competitive. T-Mobile US Inc. and Sprint Corp., the fourth- and third- largest players, are cutting prices and offering additional mobile data in an effort to break the dominance of AT&T and Verizon Communications Inc.
The meeting was reported earlier by Sky News.
Dallas-based AT&T is laying the groundwork internally for a potential offer for Vodafone, people familiar with the matter said in October.
A spokesman for Kroes declined to comment, as did Mark Siegel, an AT&T spokesman, and Vodafone spokesman Simon Gordon.
To contact the reporter on this story: Matthew Campbell in Davos, Switzerland at firstname.lastname@example.org