Arab Today, arab today vodafone set to announce 130bn verizon sale
Last Updated : GMT 11:39:24
Arab Today, arab today
Arab Today, arab today

Vodafone set to announce $130bn Verizon sale

Arab Today, arab today

Arab Today, arab today Vodafone set to announce $130bn Verizon sale

London - AFP

British telecoms giant Vodafone has agreed to sell its US wireless joint venture stake to partner Verizon in a deal worth $130 billion (98.5 billion euros), newspapers reported. Vodafone on Sunday confirmed that it was in advanced talks with Verizon Communications \"regarding the disposal of Vodafone\'s US group\", but played down press reports that the deal was complete. A company statement warned there was \"no certainty that an agreement will be reached,\" but said a further announcement would be made \"as soon as practicable\". Verizon\'s board of directors will meet on Monday to finalise the terms of the agreement that would see Vodafone sell its 45 percent stake in Verizon Wireless, giving the US fixed-line company full control after 13 years of shared ownership, the Financial Times reported. The business daily added that Vodafone\'s board had already met on Sunday to approve the deal, which the company said would \"substantially comprise a mixture of Verizon common stock and cash.\" The Guardian reported that the split between shares and cash would be roughly 50-50. The Wall Street Journal called it the second most important acquisition of all time after Vodafone\'s takeover of Mannesmann in 1999 for around $203 billion. The US daily claimed that the new deal would be announced \"Monday afternoon\", quoting a person close to the negotiations. Verizon spokesman Bob Varettoni on Sunday told AFP that he would not comment on the latest reports. Created in 2000, Verizon Wireless operates over 100 millions lines and employs 73,4000 staff. Headquartered in Basking Ridge, New Jersey, the company generated revenues of $75.9 billion in 2012, according to its website. Verizon has been looking to take full control of the joint venture for many years but negotiations have floundered on the sale price with the US company hoping to pay around $100 billion for Vodafone\'s stake. The deal is likely to be structured so that Vodafone is shielded from a hefty tax hit \"Vodafone would be hit with a huge tax bill, they are talking about $30-40 billion,\" Morningstar analyst Allan Nichols said. \"But there are some ways around and under $10 billion would be more likely,\" he added. Verizon is reported to be financing the deal through a mixture of loans and corporate bonds created by JP Morgan, Morgan Stanley, Barclays and Bank of America Merrill Lynch. The deal would help Vodafone, which is looking to bounce back from hefty losses, to pay down its debt, allow it to consider making further acquisitions and to return money to shareholders, analysts said. Hit by eurozone strains, Vodafone in June launched a 7.7-billion-euro cash offer for Kabel Deutschland, Germany\'s biggest cable operator. \"Speculation had increased in the wake of the Kabel deal that a deal (for Verizon Wireless) could be in the offing as the company looks to free up cash to push down its debt pile and acquire some more fixed line assets,\" said Michael Hewson, senior analyst at traders CMC Markets UK.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today vodafone set to announce 130bn verizon sale Arab Today, arab today vodafone set to announce 130bn verizon sale

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today vodafone set to announce 130bn verizon sale Arab Today, arab today vodafone set to announce 130bn verizon sale

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today US travel restrictions are still 'Muslim ban'

GMT 00:54 2017 Tuesday ,26 September

US travel restrictions are still 'Muslim ban'
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel builds settlements 'at high rate'

GMT 01:04 2017 Tuesday ,26 September

Israel builds settlements 'at high rate'
Arab Today, arab today Saudi clerics use Twitter, textbooks

GMT 10:13 2017 Tuesday ,26 September

Saudi clerics use Twitter, textbooks
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Personality study finds fish have hidden depths

GMT 00:43 2017 Tuesday ,26 September

Personality study finds fish have hidden depths
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Botanical gardens a lifeboat

GMT 02:50 2017 Tuesday ,26 September

Botanical gardens a lifeboat
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Mai Kassab happy for participating in new film

GMT 09:33 2017 Friday ,22 September

Mai Kassab happy for participating in new film
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 16:08 2017 Monday ,25 September

'World's heaviest woman' dies

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday