AT&T says it does not intend to make an offer soon for British cellphone company Vodafone.
The announcement by the largest U.S. telecommunications company means it is restricted from initiating a bid on Vodafone in the next six months, according to British takeover rules. But the Dallas company can respond to an offer initiated by Vodafone, or it can make a bid in response to an offer from another company.
AT&T Inc. says it made the announcement at the request of a United Kingdom Takeover Panel, and it cites recent speculation about a possible Vodaphone deal.
Last year, Vodafone agreed to sell its 45 percent stake in AT&T competitor Verizon Communications Inc. to Verizon for $130 billion.
U.S.-traded shares of Vodaphone Group PLC are down almost 5 percent in premarket trading Monday as AT&T shares edged up.