AfterDawn: Tech news

Verizon may have to pay over $120 billion if it wants to buy out the rest of Verizon Wireless

Written by Andre Yoskowitz @ 28 Apr 2013 6:47

Verizon may have to pay over $120 billion if it wants to buy out the rest of Verizon Wireless

Over the past weeks, it has been reported that Verizon has been considering buying out the other half of its Verizon Wireless joint venture.
Vodafone currently owns a 45 percent stake in the thriving carrier.

Reuters spoke with six of Vodafone's major investors, who said the asking price would have to be above $120 billion to be acceptable. The six shareholders control 1.3 billion of the 5 billion outstanding Vodafone shares making them huge players.

The recent reports had claimed Verizon was preparing a $100 billion bid, 50:50 in cash and stock.

These investors would also prefer a complete merger between the two companies, as Verizon Wireless is the major profit center for Vodafone.

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