Vodafone in key stake sale talks
London, August 30, 2013
Vodafone Group said it was in talks with Verizon Communications to sell its prized stake in Verizon Wireless, the number one US mobile carrier, in what would be the third-biggest deal of all time.
Vodafone's chief executive Vittorio Colao has bided his time, waiting for the optimal moment to sell the 45 per cent stake in a deal that would leave the world's second largest mobile operator with assets in Europe and emerging markets such as India, Turkey and Africa.
Verizon and Vodafone were discussing a sale for around $130 billion in talks that had resumed a few weeks ago, according to a person familiar with the situation. He said an announcement could come as soon as the first week of September.
Bloomberg also reported that Verizon is working with several banks to raise $10 billion from each to finance about $60 billion of the deal. It said an announcement could come as soon as September 2.-Reuters
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