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Verizon Asks Vodafone To Sell Back Stake


 
 
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Old 03-13-2006, 03:00 PM
Mike Temporale
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Default Verizon Asks Vodafone To Sell Back Stake
http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-03-12T130245Z_01_L12754500_RTRIDST_0_TELECOMS-VODAFONE-VERIZON.XML

"U.S. telecom giant Verizon Communications has made an informal approach to Vodafone Group Plc about buying the latter's 45 percent stake in Verizon Wireless for about $40 billion, British newspaper the Business reported on Sunday. "We have made our interest in acquiring Vodafone's stake in Verizon Wireless clear," a Verizon source told the paper. "The ball is now in Vodafone's court." Verizon is under pressure to consolidate control of Verizon Wireless in the wake of AT&T's planned acquisition of BellSouth, which will give AT&T complete control of top U.S. wireless company Cingular Wireless."
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