Vodafone has confirmed that it is in talks to sell its 45% stake in Verizon Wireless in a deal that could be worth as much as $130 billion.
It’s no secret Verizon was looking for ways to buy Voda’s stake in its mobile operator, and there has been persistent speculation that Vodafone would sell if the price was good enough.
According to Bloomberg’s sources, Verizon is working with several banks to raise a total of $60 billion to finance the buyout. The rest of the sum would go in the form of shares in Verizon, the move that could also help Vodafone avoid a hefty tax bill. Those same sources say that the deal could be announced as soon as next week.
In a short statement, Vodafone said that it “notes the recent press speculation and confirms that it is in discussions with Verizon Communications regarding the possible disposal of Vodafone’s US group whose principal asset is its 45% interest in Verizon Wireless.”
We’ll be watching this space and get back to you as soon as we have something new to add to the story…