backtop


Print


  (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





"Nowadays you can buy a CPU cheaper than the CPU fan." -- Unnamed AMD executive






Most Popular ArticlesSuper Hi- Vision Will Amaze the World
January 16, 2017, 9:53 AM
Samsung Chromebook Plus – Coming in February 2017
January 17, 2017, 12:01 AM
Samsung 2017 Handset’s Updates
January 17, 2017, 12:01 AM
Comparison – Surface Pro VS Tbook X5 Pro
January 21, 2017, 7:00 AM
Comparison – iPad Mini Vs Huawei MediaPad M3
January 19, 2017, 2:08 AM

Latest Blog Posts
Apple Watch
Saimin Nidarson - Jan 24, 2017, 6:51 AM
Some new News
Saimin Nidarson - Jan 23, 2017, 8:59 AM
What is new?
Saimin Nidarson - Jan 22, 2017, 7:00 AM
News
Saimin Nidarson - Jan 20, 2017, 7:00 AM
News of the World
Saimin Nidarson - Jan 19, 2017, 7:00 AM
Some tips
Saimin Nidarson - Jan 17, 2017, 12:16 AM
News of the Day
DailyTech Staff - Jan 16, 2017, 12:10 PM
Tech News
Saimin Nidarson - Jan 15, 2017, 12:32 AM
Here is Some News
Saimin Nidarson - Jan 14, 2017, 12:39 AM
News around the world
Saimin Nidarson - Jan 12, 2017, 12:01 AM
Rumors and Announcements
Saimin Nidarson - Jan 11, 2017, 12:01 AM
Some news of Day
Saimin Nidarson - Jan 7, 2017, 12:01 AM
News 2017 CES
Saimin Nidarson - Jan 6, 2017, 12:01 AM






botimage
Copyright 2017 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki