Verizon Communications close to deal to buy 45% stake in Verizon Wireless
0. phoneArena 31 Aug 2013, 21:05 posted on
The boards of both Verizon Communications and Vodafone Group are expected to meet on Sunday to vote on a deal for Verizon to buy back the 45% stake in Verizon Wireless owned by Vodafone; if both boards agree to the transaction, it is expected to be announced on Monday. Verizon is expected to pay $130 billion for the rest of Verizon Wireless that it doesn't own, and is planning on raising $65 billion to help fund the purchase...
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1. JGuinan007 (Posts: 633; Member since: 19 May 2011)
So Vonda phone gets 130 million, assets back in Europe, and get out of Verizon while the gettins good. Verizon get 100% control of Verizon wireless, and 130 billion in debt to biggest banks in US. Maybe they can make a Verizon Quad package Fios, TV-ala cart pick your channels free hd, home phone, and a family plan with a combined data package! all for $250 a month!
2. PAPINYC (Posts: 2273; Member since: 30 Jul 2011)
Who 'Run the World', not Beyonce that's for sure.
BTW, Alan, TYPO': paragraph 2; sentence 1 [Billion], not Million.
Verizon: "We Runs The World!"
(Sorry, had to take a minute from my Labor Day Vacā' to say that)
as you were .....
3. Alan01 (Posts: 181; Member since: 21 Mar 2012)
Sorry...once we get past the fingers counting stage its hard to visualize....oh yeah, toes and other appendages too.
4. Gawain (Posts: 352; Member since: 15 Apr 2010)
This is a win for Verizon Communications and a long-term bad move for Vodafone. It takes them out of the dynamic US market, leaving them with the saturated Euro-zone and small growth. India has good growth, but doesn't have the purchasing power found in the west. They will get an injection of cash which is nice, but its 45% stake in VZW was netting them $7B+ in dividends a year, for doing nothing. Wish I had an arrangement like that.
6. johnbftl (Posts: 189; Member since: 09 Jun 2012)
Vodafone isn't only in Europe and India. They are also in Australia, New Zealand, Egypt, Turkey, and Qatar. They are doing well, and I'm pretty sure if they were looking to get out of the U.S. market, it made financial sense. If they made $7B a year from Verizon and they just cashed out $130B, that's 18+ years they just walked away with to sell off their stake. 18 years of unknown revenue from a company in which they are a silent partner. I'd say taking it all up front is a pretty smart move.
5. sonisoe (Posts: 325; Member since: 06 May 2009)
who owns who america and uk ? getting a headAche reading this