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Verizon slams $130 billion on the table, wants Vodafone's stake back

Verizon wants its $130 billion stake from Vodafone back, makes an offer (NYSE:VZ, NASDAQ:VOD)

| Business, Financial & Legal News | Posted: Sep 2, 2013 5:33 am

Vodafone and Verizon's business relationship might just improve if a report from Reuters is correct, with the company's working on a deal over the weekend. As usual, people "familiar with the matter" say that the firms' respective boards are voting on a $130 billion buyout.

 

TweakTown image news/3/2/32654_05_verizon_slams_130_billion_on_the_table_wants_vodafone_s_stake_back.jpg

 

This would see Vodafone's 45% stake in Verizon back in its own hands. Verizon will finance half of the deal with bonds and bank loans, with the other half of the deal seeing suitcases filled with cash being handed over. The Wall Street Journal has chimed in, stating that the deal was finalized behind closed doors, and we should expect an official announcement on Monday morning.

NEWS SOURCE
Engadget.com

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