Shares in Vodafone fell yesterday despite assurances from the world's largest mobile phone firm that its US strategy would not hurt investor interests.
The shares slipped 3.75p to 141.25p as the market watchers speculated that it might enter a $30 billion (€23.7 billion) auction for US rival AT&T Wireless.
This speculation followed publication of results for the three months to end December 2003, which show the firm has 130.4 million global customers.
New figures published by the group's Irish operations show that it signed up 68,000 new customers in the quarter, boosting its subscriber base to 1.87 million.
The average annual bill paid by each Vodafone user rose to €582, up from €576. This is €223 higher than Vodafone's Italian customers and €271 higher than German subscribers.
Vodafone Ireland also said it had clinched a potentially lucrative national roaming deal with new entrant Hutchison.
This is a disappointment for O2 which had thought it was in a strong position to reach a deal.
Meanwhile, Vodafone chief executive Mr Arun Sarin declined to be drawn on any plans to trade a 45 per cent stake in top US mobile group Verizon Wireless for control of the number three operator AT&T.
"Whatever we do or not do will be always with our shareholders in mind," he said after the group topped forecasts for subscriber growth over the Christmas quarter in 2003.
"We're partners with Verizon Wireless in the US. We're a large investor in the US. We're watching the developments as they occur," he said.
But banking sources say the mobile phone group has been sounding out the loan market about financing for possible acquisitions.
"We have been discussing liquidity for Vodafone and what they could put together. They have some situations in mind, but the number of banks in the loop is very small," one banker said.
It is likely that a bid for US firm AT&T could hurt Vodafone's share price. Vodafone has about 450,000 shareholders, many of whom inherited shares after Eircom was sold.
