NEW YORK, April 6 (Reuters) - U.S.-listed American depository receipts (ADRs) of Vodafone Group PLC, Europe’s largest wireless carrier, could rise by 20 percent or more in the next year, according to an article in the April 7 edition of Barron‘s.
The company’s ADRs look appealing at $36, down from a recent high of $42, as speculation cools that AT&T Inc will buy the company, the financial newspaper said. AT&T has expressed European ambitions, and may still seek to buy Vodafone, it added.
Vodafone sold its 45 percent stake in Verizon Wireless to Verizon Communications Inc for $130 billion in a deal that closed in February.
While some American investors may be more comfortable owning Verizon or AT&T, Vodafone is a good play for those seeking European telecom exposure, Barron’s said.
“Vodafone is a bet on an upturn in Europe, improving conditions in the European wireless market, and the rollout of next-generation 4G data services, which are more prevalent here,” it said. (Reporting by John McCrank)