AT&T Inc. signaled again Wednesday that it may lose interest
in doing a wireless deal in Europe if it can't do one soon.
Chief Financial Officer John Stephens, speaking at an investor
conference, said the window of opportunity for a deal is closing,
echoing comments made late last week by Chief Executive Randall
Stephenson.
AT&T has explored a bid for Vodafone Group PLC, people
familiar with the matter have said. But it can't approach the
carrier until the summer due to a regulatory technicality. The
companies could hold talks sooner if they were initiated by
Vodafone.
The AT&T executives both cited progress in Europe toward
rolling out high speed networks, a shift AT&T had hoped to
capitalize upon, and new competitive threats in AT&T's
backyard, where Comcast Corp. and Time Warner Cable have agreed to
merge in a deal that would create a giant new rival for the phone
company's broadband and pay-television services.
Meanwhile, Vodafone has been pursuing cable companies in Europe,
most recently studying a possible bid for Ono SA in Spain,
according to a person familiar with the matter.
Mr. Stephens said AT&T still sees opportunity in Europe, but
said it is important to note that things have changed.
Write to Thomas Gryta at thomas.gryta@wsj.com
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