Seeking Alpha

Vodafone to use Verizon money to invest in own networks

  • Vodafone (VOD) -1.5% in London following news of the sale of its 45% stake in Verizon Wireless for $130B.
  • Vodafone plans to use the money on its own networks, CEO Vittorio Colao has said. Acquiring foreign assets is an option but Vodafone won't do it immediately.
  • Although the company will pay its shareholders $84B in cash and Verizon stock, it also intends to launch Project Spring, a £6B ($9.3B) scheme to invest in 4G infrastructure and fiber-optic cables.
  • Meanwhile, John Malone said he would consider an offer for Liberty Global (LBTYA), Europe’s largest cable-television operator, but he's "happy" with with the company as is. Liberty has been mentioned as a possible Vodafone target.
Comments (1)
  • Esekla
    , contributor
    Comments (3553) | Send Message
     
    I'd said here: http://seekingalpha.co... that if this ever came to pass neither company was one I'd want to own. The Moody's debt downgrade for VZ, and the stock movement here make it seem that I may not be alone in that opinion.

     

    They should do something like this: http://seekingalpha.co... and offer Google Voice-like services alongside a la carte programming. Oh well.
    3 Sep 2013, 04:15 AM Reply Like
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