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 4:57:02 PM
my neighbor's sister-in-law makes $81 hourly on the internet. She has been fired for 8 months but last month her payment was $12357 just working on the internet for a few hours. try this in site
"We are going to continue to work with them to make sure they understand the reality of the Internet. A lot of these people don't have Ph.Ds, and they don't have a degree in computer science." -- RIM co-CEO Michael Lazaridis
Verizon Looking to Buyout Vodafone's Verizon Wireless Stake for a Cool $100B+
April 25, 2013, 10:00 AM
Amazon Seeks FAA Permission to Test 50 MPH Flying Drones
July 11, 2014, 12:32 PM
Samsung Fails to Launch its Tizen-based Smartphone in Moscow, Unsure of New Launch Date
July 11, 2014, 9:00 AM
China's Top State-run Broadcaster Considers iOS Tracking Feature is a National Security Threat
July 11, 2014, 8:25 AM
Verizon Wireless Offers Up $100* LG G3, Will Be Available July 17
July 10, 2014, 4:21 PM
Satya Nadella Says Microsoft is a "Productivity and Platform Company" for the Mobile/Cloud World
July 10, 2014, 12:29 PM
Motorola Touts Its Moto 360 Smartwatch in Another Teaser Video
July 10, 2014, 9:26 AM
Most Popular Articles
Apple's iPhone, iPad Update iOS 7.1.2 is Badly Broken for Some
July 8, 2014, 2:00 PM
Buzz Aldrin Says First Astronauts to Set Foot on Mars Should Never Return Home
July 9, 2014, 9:46 AM
Despite Legal Threats Google Begins Posting Warnings of ISP Throttling
July 7, 2014, 5:52 PM
Update: Cadillac ELR Plug-in Hybrid "Sales Fail" Continues, Dealers Offering Up to $19k Off
July 11, 2014, 3:34 PM
Your Uncharged Smartphone, Tablet May Prevent You from Boarding U.S.-bound Flights
July 6, 2014, 11:11 PM
Latest Blog Posts
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information