Verizon wants to increase ownership of Verizon Wireless
posted by PhoneArena Team
/ Jan 30, 2006, 6:59 AM
Verizon Communications Inc., part owner of Verizon Wireless, expressed interest in increasing their ownership in Verizon Wireless by acquiring Vodafone's stake, although Vodafone hasn't officially stated a desire to sell. According to a Bear Sterns report on Verizon, Vodafone, which owns 45 percent of the wireless branch, may put a right that would require Verizon Communications Inc. to buy out its stake at market value for between $10 and 20 billion. There is also a possibility Verizon to buy only a part of the stake, if Vodafone decides to retain an interest in the branch. Verizon Communications Inc. stated that they are open for negotiations and hope that they will be able to reach an agreement, efficient for both parties.
Source: RCR Wireless News
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