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Vodafone values Verizon Wireless stake at USD 130 bln
2013-09-02 08:37:00| Telecompaper Headlines
(Telecompaper) Vodafone has confirmed the price tag for its 45 percent stake in Verizon Wireless, at USD 130 billion. Responding to press speculation that a deal to sell the stake to Verizon Communications is imminent, the company said in a statement that the payment would be a mixture of Verizon shares and cash. People familiar with the matter told the Wall Street Journal that a deal could be announced as early as 02 September. Vodafone would pay about USD 5 billion in tax on the sale, while also receive Verizon's stake in Vodafone Italia, which is valued at about USD 5 billion as part of the payment, the Financial Times reported. The remaining USD 120 billion would be split equally between cash and equity in Verizon, according to the paper's sources.
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Category:Telecommunications