Vodafone News Update: Confirmed Talks with Verizon
Vodafone news update: UK based Vodafone are in talks with Verizon, the US communications company, with regards to their joint venture, Verizon Wireless.
It has finally been confirmed after previous speculation that Vodafone is in fact talks with Verizon, the US communications company, in regards to their joint venture, Verizon Wireless.
There has already been rumour as to whether Verizon and Vodafone were going to continue looking into the possibility of Vodafone selling its share in Verizon Wireless, a stake of 45%. This is America’s largest mobile phone operator so if Vodafone were to go ahead with the sale, then there would be definite profits available, as the stake is already amounted to a wealth of around £65 billion.
It is undecided what has caused Vodafone to want to sell its share in Verizon Wireless, but it has been said they would be likely to use the money gained to pay off any outstanding debts.
Vodafone News Update
Verizon Wireless was founded in the year 2000, after the venture received the go ahead after just 6 months of being in talks. Verizon wireless then quickly went to become the largest mobile network operator in the United States setting benchmarks across the mobile phone communications industry such as introducing the nations first 3G wireless broadband network and soon after to start offering a 4G network, meaning internet access is faster and more efficient then ever before.
The talk of the sale came into view at the beginning of this year when it had been announced that Verizon were in talks with advisors on a potential buyout. Whilst Vodafone have not yet officially confirmed that this sale is a definite, it is looking promising, as shares for the company have already risen by 9%. This is due to investors speculating and looking forward to the prospect of the windfall profits the company is likely to make. If the deal is to go ahead, it will make history with it being one of the largest corporate transactions ever.
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