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Print 5 comment(s) - last by AntDX316.. on Sep 2 at 3:52 AM


  (Source: mncable.net)
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. 

According to 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.  

Source: Reuters



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SEC
By Shig on 8/30/2013 2:40:59 PM , Rating: 1
A 130 billion dollar aquisition would be in the top 5 (I think) of ANY private aquisition EVER.

Too stronk Verizon, too stonk. Grow a pair SEC.




RE: SEC
By retrospooty on 8/30/2013 3:40:15 PM , Rating: 2
This wouldn't really make them any larger. It's just Verizon buying out Vodafone's current partial ownership of Verizon Wireless.


RE: SEC
By AntDX316 on 9/2/2013 3:52:39 AM , Rating: 2
top 5? what's #1?


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