Vodafone confirms late-stage talks with Verizon

[Omaha Steve]

Source: AP, Excite

NEW YORK (AP) - Vodafone says it is in advanced talks to sell its 45 percent stake of Verizon Wireless back to the U.S. cellphone service provider for $130 billion in cash and stock, a deal which would be the second-largest on record if it goes through.

If an agreement is reached, Verizon would own its wireless business outright after buying the stake back from British cellphone company Vodafone PLC.

Vodafone said in a statement on Sunday there is no certainty that a final deal will be reached. Verizon Communications Inc. (VZ) (VZ) declined to comment.

The buyout, if finalized, would be second only to Vodafone's $172 billion acquisition of Mannesmann AG in 2000, according to research firm Dealogic.

FULL story at link.


Read more: http://apnews.excite.com/article/20130901/DA8HQUO80.html

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A Tuesday, May 19, 2009 photo from files showing people walking by a branch of Vodafone in central London. Britain's Vodafone PLC, one of the world's largest mobile phone companies, confirmed Thursday that it was in discussions with Verizon Communications to sell its operations in the United States. The British wireless provider is mulling its options for its 45 percent stake in the U.S.'s Verizon Wireless, of which Verizon Communications owns the other 55 percent. Analysts have suggested that Verizon wants to pay around $100 billion for Vodafone’s stake, although reports have said that U.K. group is pressing for as much as $130 billion. (AP Photo/Sang Tan, File)

[onehandle]

1. Hmm. It will be interesting to see if the Feds blocks this sale like they did with AT&T/T-Mobile. nt

[cstanleytech]

2. Why would they? Vodafone isnt being bought by them they are wanting to sell

their Verizon stock back to Verizon.

[onehandle]

3. I misread a detail of the story.

Long day today.

Never mind.

[cstanleytech]

5. Been there, done that myself a few times so I completely understand

[Festivito]

4. Interesting. Are they ready to make some kind of industrial move?

Just guessing, but they could be moving to take over the entire land line market. And leave AT&T in the dust. Or, maybe they are ready with 5G.

Seems like they are up to something.

[cstanleytech]

6. Maybe........they just dont want to own Verizon wireless stock anymore

and would rather focus all their energy (and money on from sell of the verizon stock) on their own network?
After all that is a considerable amount of money tied up with that verizon stock that they could use to do things like invest in their own networks infrastructure.