NEW YORK (TheStreet) -- Vodafone
(VOD) was gaining 0.6% to $36.17 Monday on speculation that SoftBank is looking to acquire the U.K. telecom.
According to Investor's Business Daily SoftBank is reportedly looking to acquire Vodafone after U.S. regulators opposed the telecom's ideas to merge U.S. carriers Sprint S and T-Mobile TMUS. The company would likely use its 37% stake in Alibaba in any efforts to acquire the telecom.
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"Vodafone Group Plc (Vodafone) is a mobile communications company. The Company provides its services to mobile voice, messaging, data and fixed line. Vodafone has equity interests in telecommunications operations in nearly 30 countries and around 50 partner networks worldwide. Vodafone Red offers consumers and businesses a package with mobile data allowances, unlimited calls and texts, plus cloud and back-up services to secure personal data. Vodafone Cloud allows customers to store their personal digital content, such as contacts, photos and videos in the Vodafone network and to access it on the move from any connected device. Vodafone OneNet integrates landlines and mobiles providing a communication solution. Vodafone Secure Device Manager gives customer a way to manage many of their smart devices. In February 2014, Verizon Communications Inc completed the acquisition of Vodafone Group Plc's 45% indirect interest in Verizon Wireless.