- Vodafone (VOD) says it is in "advanced discussions" to sell its 45% stake in Verizon Wireless to Verizon Communications (VZ) for $130B in cash and shares.
- The company will make a further announcement "as soon as practicable," which reports say could be today.
- The sides were working late into the night to iron out the final details, sources say, including the cash-stock ratio of the deal.
- The debate about what Vodafone should do with the proceeds of the deal is already well under way: while shareholders are hoping for a healthy windfall, the FT reports that the company is interested in expanding its presence in the wire-line sector in Europe with deals similar to its proposed acquisition of Kabel Deutscheland. Liberty Global (LBTYA) has cropped up in the speculation as a potential target. (PR)
at CNBC.com (Wed, 3:00AM)