Vodafone Ready to Give Up Verizon Wireless Stake

By Craig Galbraith Comments
Print

**Editor's Note: Please click here for a recap of the biggest channel-impacting mergers in Q2 2013.**

Vodafone appears ready to give up its 45 percent of Verizon Wireless if Verizon – or anyone else for that matter – comes up with a good offer.

The European communications giant's chairman made that known on Tuesday, assuming there are proposals "that generate more value for shareholders ... we will consider them," Gerard Kleisterlee said, according to Reuters. Some analysts believe VzW could be worth $120 billion.

Verizon has said in recent months that it would like to buy the remainder of the joint venture if the timing and price were right. But as the European economy has struggled and regulation has increased over the years, Verizon Wireless has been an important part of Vodafone's portfolio.

For now, talk of a deal is still, well, talk. Kleisterlee said there was nothing more to announce regarding a possible sale.

"There is ongoing communication (that involves) the full board," Reuters quoted him as saying. "Both executives and non-executives are involved in those negotiations with Verizon."

The deal has the potential of being the biggest in communications history.

Follow senior online managing editor @Craig_Galbraith on Twitter.

Comments
comments powered by Disqus