Verizon to pay $100 billion in cash and stock to buy back the 45% wireless stake owned by Vodafone?
0. phoneArena 24 Apr 2013, 23:05 posted on
Speculation on Wednesday has Verizon Communications, parent of the nation's largest carrier, prepping a $100 billion cash and stock offer to buy back the 45% of itself currently owned by Vodafone and sources say that the company has already hired financial and legal advisers to help the carrier in its quest; at this point, there are no guarantees that Vodafone is interested in a deal or that Verizon will even make a bid...
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1. Goldeneye (Posts: 376; Member since: 22 Jan 2011)
So Verizon wireless is worth about 200 billion? wow! and Sprint less than 25 billion, according to the current bids from Softbank and Dish.
3. lsutigers (Posts: 814; Member since: 08 Mar 2009)
Based on market cap, I suppose. Doesn't necessarily have anything to do with actual assets, customers, etc...
Sprint's bid is for 70% and Sprint is still in recovery mode but they carry a lot of debt. Softbank is capitalizing on this as Sprint is worth way more than that.
I don't know how Verizon will afford this, the home / business division has been bleeding money for years and laying off people. Maybe this is their only hope, as the wireless division has been keeping them afloat.
2. quakan (Posts: 1285; Member since: 02 Mar 2011)
So now will we start paying more to help foot this bill?