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Thursday, August 29, 2013
Vodafone in Talks With Verizon To Sell U.S. Venture


Verizon Communications Inc is in talks to buy Vodafone Group Plc's 45 percent stake in their U.S. joint venture for about $130 billion, Vodafone confirmed on Wednesday.

"Vodafone notes the recent press speculation and confirms that it is in discussions with Verizon Communications Inc. regarding the possible disposal of Vodafone's US group whose principal asset is its 45% interest in Verizon Wireless. There is no certainty that an agreement will be reached," Vodafone said in a statement.

Earlier, Bloomberg has reported that Verizon was working with banks to raise $10 billion from each to finance about $60 billion of the deal and an announcement could come as soon as September 2.

Vodafone Chairman Gerard Kleisterlee said last month the company would seriously consider any offer for its stake in Verizon Wireless if it offered more value to investors than the current status quo.


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