• Most Popular
  • Most Shared

Comcast says will not bid on Yahoo, Sprint

NEW YORK
Thu Feb 14, 2008 9:48am EST

Stocks

   

NEW YORK (Reuters) - Cable operator Comcast Corp (CMCSA.O) said on Thursday it will not bid for Yahoo Inc (YHOO.O) , Sprint Nextel Corp (S.N) or on any big "transformative" acquisitions.

Deals  |  Stocks  |  Mergers & Acquisitions

"We are committed to remaining disciplined," Comcast Chief Executive Brian Roberts told analysts on a conference call.

"To be clear, we are not spending any time on any of the large transformative acquisitions that have been speculated about like Yahoo or Sprint," Roberts added.

Microsoft offered to buy Yahoo for an estimated $42.1 billion, stoking speculation that other companies would submit rival bids.

Comcast, which issued an annual 25 cent-per-share dividend and set a year-end 2009 target to complete a stock buy-back, said it plans to spend mostly on investing in its business.

(Reporting by Kenneth Li, editing by Maureen Bavdek)
Deals
Stocks
Mergers & Acquisitions


More from Reuters

Photo

Obama says U.S. will pursue plane attackers

KAILUA, Hawaii (Reuters) - A wing of al Qaeda claimed responsibility on Monday for a failed Christmas Day attack on a U.S.-bound passenger plane and President Barack Obama vowed to bring "every element" of U.S. power against those who threaten Americans' safety. | Video

» More Top News
Passengers pass security notices as they approach the departure gates at Gatwick Airport, in southern England December 28, 2009. REUTERS/Luke MacGregor

Travelers met with hassles

The U.S. is stepping up airline security measures following the Christmas bomb scare. Here's what you can expect.  Full Article | Video 

U.S.
Iranian protesters take a policeman away to a safe place after he was beaten by angry protesters during fierce clashes in central Tehran December 27, 2009. Credit: REUTERS/Stringer

Deaths, arrests in Iran

Is Iran's "iron fist of brutality" a new volatile phase aimed at crushing the refomist movement?  Full Article | Video 

World