Business: Agenda: Postscript: Telecoms giant to end special relationship: COMPANIES: Transatlantic call could pay off for Vodafone
(Observer (UK) Via Acquire Media NewsEdge) Vodafone has restarted talks to sell its 45% stake in Verizon Wireless, America's largest mobile network.
Fixed-line telecoms group Verizon Communications, which owns the balance of the company, has been angling for years to take full control. It might now be on the verge of securing the prize, as on Thursday the UK company confirmed that its US partner had reopened discussions, which lapsed earlier this year after the pair couldn't agree on price.
Back then, Verizon was understood to be offering around $100bn, a sum that failed to impress Voda's board and shareholders, but the Americans are believed to have already approached Wall Street banks about raising the cash needed to fund an increased bid.
City analysts are now salivating, predicting that Vodafone could secure as much as $130bn for its share. That would be enough to pay off the company's debt, reward shareholders with a massive dividend - or, if it was so inclined, brag about how the windfall is larger than the entire Vietnamese economy.
Vodafone: in the transfer market again.
(c) 2013 Guardian Newspapers Limited.
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