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Vodafone Confirms Talks to Sell Verizon Stake

Aug 29, 2013, 6:51 AM by Eric M. Zeman

Vodafone today confirmed reports that it is in talks with Verizon Communications to sell its 45% stake of Verizon Wireless. Verizon Wireless is a joint venture between Verizon Communications and Vodafone. The companies held talks earlier this year, but no deal was reached. The two firms rekindled their discussions in July due to changes in the financial markets that make the deal more attractive to both companies. Verizon is working with banks to raise about $60 billion to help with the buyout. The total cost of the deal is said to between $100 and $130 billion. Vodafone said that it would use any funds raised by the sale to help with other acquisitions and to pay down debt.

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SublimeDavid

Aug 29, 2013, 10:07 AM

aka... buy T-Mobile U.S.

aka sell off verizon and fully own T-Mobile US. Makes perfect sense, Standard 1700/2100 Aws LTE compatibility, roaming agreements with AT&T. Selling off their VZW stake would give them cash for acquisitions (T- Mobile US) Cash for a T-Mobile expansion, and of course gives them a full entry into the U.S market along with current compatible technology, with a company that netted a nice sum of customers last quarter that now has the iPhone. This waiting game was merely a waiting game to see how the NO SUBSIDY model would work out for T-Mobile without making a bid to buy it prematurely. 😎

Versed

Not a bad thought. But Vodafone tends to be a market leader, and if anything, they may persure a merger with AT&T, even if its a merger amongst equals. Both companies have been wanting to expand markets.

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