This site is part of the Global Exhibitions Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.


Vodafone Ready to Give Up Verizon Wireless Stake

By Craig Galbraith
July 24, 2013 - News

**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 powered by Disqus
Related News
The 4G LTE Network Extender features Samsung's innovative small cell technology, which enables
Craig Galbraith
Global Capacity customers can now leverage the new 4G LTE service as backup for their Ethernet, T1