Vodafone confirms "advanced discussions" with Verizon

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)

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Comments (2)
  • notta lackey
    , contributor
    Comments (131) | Send Message
    We want a dividend. And take the AT&T offer for the rest if it is fair.
    2 Sep 2013, 10:18 AM Reply Like
  • Veritas1010
    , contributor
    Comments (3351) | Send Message
    More poor choices following on more poor choices"...Run Vodafone, run".


    Meanwhile watch closely Ladies & Gentlemen this won't be the relatively secure and safe VOD of the 00's.
    2 Sep 2013, 01:35 PM Reply Like
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