Quick Note: Verizon Communications Wants to Buy Vodafone's Wireless Stake for $130B
August 30, 2013 11:24 AM
comment(s) - last by
An announcement could come as soon as September 2
Verizon Communications Inc. is looking to finally push along a
purchase of Vodafone's stake
in Verizon Wireless.
The Wall Street Journal
, Verizon Communications wants to buy Vodafone's 45 percent stake in Verizon Wireless for about $130 billion USD.
The report noted that Verizon is currently working with multiple banks with the intention of getting $10 billion from each. The idea is to fund $60 billion of the deal this way.
Back in April, Verizon was contemplating a $100 billion bid and a 50/50 cash and stock offer for the 45 percent stake, but advisers said this figure was too low, valuing the Vodafone holding at about $120 billion USD.
An announcement is expected as soon as September 2.
Verizon Communications was created in 2000 when Bell Atlantic Mobile and GTE Wireless merged. Bell then struck a deal with Vodafone where it invested $49.5 billion USD and Vodafone threw in $40.5 billion USD to create a wireless network.
Verizon Communications almost succeeded in buying out Vodafone's stake four years later, but the deal depended on Vodafone's bid to buy AT&T Wireless -- which would have forced it to let go of the Verizon Wireless stake. In the end, Cingular beat out Vodafone's bid for AT&T and Vodafone stuck with Verizon Wireless.
This article is over a month old, voting and posting comments is disabled
8/30/2013 1:53:28 PM
They are not so big value companies because they overcharge customers, but...
"The Space Elevator will be built about 50 years after everyone stops laughing" -- Sir Arthur C. Clarke
Verizon Looking to Buyout Vodafone's Verizon Wireless Stake for a Cool $100B+
April 25, 2013, 10:00 AM
Google's Proposals for Search Antitrust Settlement Shot Down by European Commission
December 20, 2013, 8:52 PM
E-Cigarettes Included in NYC's Smoking Ban
December 20, 2013, 4:00 PM
BlackBerry Partners with Foxconn for BB10 Devices
December 20, 2013, 10:43 AM
3D Systems Acquires Xerox’s Solid Ink Teams in Oregon
December 18, 2013, 7:54 PM
While FCC Debates Allowing In-flight Voice Calls, Delta is Already Saying “Nope”
December 18, 2013, 12:11 PM
New Mac Pro Launches Tomorrow, Starts at $2,999
December 18, 2013, 10:56 AM
Most Popular Articles
Dogecoins and Its IBM Developer Ride Meme to $130M+ Fortune
December 18, 2013, 4:21 PM
China's Moon Rover Lands Safe and Sound, Starts Snapping Pics
December 16, 2013, 1:22 PM
Top Microsoft Graphics Genius Defects to Google
December 17, 2013, 4:27 PM
Harvard Undergrad Busted by Wi-Fi after Making Bomb Threat to Avoid Finals
December 18, 2013, 10:37 AM
NSA Debates Granting Snowden Amnesty if He Keeps His Mouth Shut
December 16, 2013, 1:17 PM
Latest Blog Posts
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
Global Cyber Espionage Concerns Reveal Growing Cyber Armies
Nov 29, 2013, 11:04 AM
Is The Period Becoming an Expression of Anger?
Nov 26, 2013, 2:02 PM
NSA and Congress -- You Will Never Kill the Constitution, It's an Idea
Nov 10, 2013, 2:00 PM
AT&T Explores $100B+ USD Deal to Acquire Vodafone's European Operations
Nov 4, 2013, 7:34 AM
More Blog Posts
Copyright 2013 DailyTech LLC. -
Terms, Conditions & Privacy Information