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You are here: MacNN Forums > News > Tech News > Rumor: Verizon to offer $100B to buy out Vodafone stake

Rumor: Verizon to offer $100B to buy out Vodafone stake
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Apr 25, 2013, 06:56 AM
 
Verizon is reportedly forming an offer for British carrier Vodafone, in order to buy out its stake in Verizon Wireless. The rumored proposal would see Verizon taking complete control in the jointly-owned carrier, and Vodafone exchanging its 55-percent share in Verizon Wireless for $100 billion, divided evenly between cash and stock.

Sources of Reuters claim that Verizon has hired advisers in both banking and legal capacities to make the bid, which it will apparently provide to Vodafone as a "friendly deal," though the bid could go public if Vodafone chooses not to discuss or take the offer. So far, that deal consists of raising $50 billion in bank financing, with the other half provided in Verizon shares. A meeting of the Verizon board to discuss a potential buyout of Verizon Wireless will allegedly take place next week, ahead of an annual shareholder meeting.

Though the buyout talks have been mentioned previously, it isn't the only possible way for Verizon to resolve the ownership relationship. One report earlier this month suggested that Verizon and AT&T could team up to buy Vodafone entirely, providing Verizon its US-based assets and AT&T a significant toe-hold in Europe. This was denied within hours of its publication by Verizon, but not before shares in all three companies were affected.

Recent quarterly results claim Verizon Wireless netted an extra 677,000 subscribers to its postpaid service, with its entire wireless subscriber base sitting at 98.9 million users.
( Last edited by NewsPoster; Apr 25, 2013 at 12:47 PM. )
     
   
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