Join 200,000+ other SprintUsers for free at the #1 online community for Sprint cell phone customers! Win cool prizes in our weekly contests. Talk about the newest phones or post your question in our forums! Become a premium member and get unlimited Focus Uploads to your Sprint phone.

All visitors must register before they can post questions, contact other members or search our database of over 127,000 threads and 1.7 million posts. So what are you waiting for? Register for free today!


Reply
 
Thread Tools Rating: Thread Rating: 5 votes, 5.00 average. Display Modes
Old 08-29-2013, 12:13 AM   #1
SLME
Satellite Phone User
 
SLME's Avatar
 
Mood: Happy
Join Date: Sep 18, '05
Location: LaLa Land
Posts: 13,675
Phone: Nexus 6
Trades: 11
Thanks: 203
Thanked 371 Times in 309 Posts
My Mood: Happy
SU$: 57,596
Arrow Verizon close to $130 billion deal for Vodafone stake..

http://finance.yahoo.com/news/verizo...024015792.html

Quote:
(Reuters) - Verizon Communications Inc is in advanced talks to buy Vodafone Group Plc's 45 percent stake in their U.S. joint venture for about $130 billion (83.66 billion pounds), Bloomberg reported late on Wednesday, citing people with knowledge of the matter.

Verizon is working with several banks to raise $10 billion from each to finance about $60 billion of the deal and an announcement could come as soon as September 2, two of the people told Bloomberg.

The Wall Street Journal reported earlier that the companies have restarted talks but it was not immediately clear whether they had resolved disagreements over price or whether Verizon has put forward a specific offer.

Reuters reported first in April that Verizon had hired advisers for a possible $100 billion bid and was contemplating a roughly 50:50 cash and stock offer for the 45 percent stake in Verizon Wireless it does not already own.

At the time, most analysts said the roughly $100 billion figure contemplated by Verizon was too low and that the value of the Vodafone holding was nearer $120 billion.

The Journal said significant shifts in financial markets, such as rising interest rates as well as changes in the U.S. cellphone business had brought the two sides closer together.

A Verizon spokesman declined to comment on the Bloomberg and Wall Street Journal reports, while Vodafone was unavailable for comment outside regular business hours.

Vodafone Chairman Gerard Kleisterlee said last month the company would seriously consider any offer for its stake in Verizon Wireless if it offered more value to investors than the current status quo.
__________________
SU is slowly dying, and soon all things must come to an end.
SLME is offline   Reply With Quote
Old 08-29-2013, 05:12 PM   #2
BZap49
Cellular Phone User
 
BZap49's Avatar
 
Join Date: Aug 24, '11
Posts: 2,229
Thanks: 145
Thanked 273 Times in 200 Posts
SU$: 28,074
I wonder if there's certain things that Verizon wants to do that Vodaphone isn't allowing them to. We don't hear much about their relationship, so I just always assumed it was going well.
BZap49 is offline   Reply With Quote
Old 09-05-2013, 01:38 AM   #3
SLME
Satellite Phone User
 
SLME's Avatar
 
Mood: Happy
Join Date: Sep 18, '05
Location: LaLa Land
Posts: 13,675
Phone: Nexus 6
Trades: 11
Thanks: 203
Thanked 371 Times in 309 Posts
My Mood: Happy
SU$: 57,596
Quote:
Originally Posted by BZap49 View Post
I wonder if there's certain things that Verizon wants to do that Vodaphone isn't allowing them to. We don't hear much about their relationship, so I just always assumed it was going well.
This explains it some. http://www.phonescoop.com/articles/article.php?a=12850

Quote:
Verizon Communications today announced that it has agreed to buy the 45% of Verizon Wireless that it does not already own from Vodafone Group for $130 billion. Verizon will pay Vodafone primarily in cash and stocks. The deal was agreed upon by the management teams over the weekend and approved by the boards of directors at both firms today. Lowell McAdam, Verizon chairman and CEO, said, "This transaction will enhance value across platforms and allow Verizon to operate more efficiently, so we can continue to focus on producing more seamless and integrated products and solutions for our customers. We believe full ownership will provide increased opportunities in the enterprise and consumer wireline markets." Once complete, Verizon will have full control over Verizon Wireless and its assets. Vodafone will use the funds gained through the divestiture to fortify its European and other worldwide business ventures. The deal will be subject to regulatory and shareholder approval and is expected to close in the first quarter of 2014.
__________________
SU is slowly dying, and soon all things must come to an end.
SLME is offline   Reply With Quote
Go Back SprintUsers.com > General > Verizon Discussion > Verizon close to $130 billion deal for Vodafone stake..

Reply

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
AT&T reports $6.7 billion loss on hefty charges, iPhone costs... SLME Other Carriers & MVNOs 11 01-28-2012 12:04 AM
verizon wireless add 1.5 million in 2nd quarter 2008 shamefulzero Other Carriers & MVNOs 16 07-31-2008 08:13 AM
Verizon reinforces interest in acquiring Vodafone's stake in Verizon Wireless... SLME Other Carriers & MVNOs 9 02-01-2006 10:32 PM


All times are GMT -6. The time now is 10:33 PM.


- SprintUsers.com is not affiliated with or endorsed by Sprint PCS -