Verizon in Talks to Buy Wireless Stake from Vodafone2013-08-29 09:34 by DanielaTags: Verizon, Vodafone
The British telecommunications company Vodafone confirmed on Thursday that it was in talks with Verizon Communications to sell its 45 percent stake in the American joint venture Verizon Wireless. The long-rumored deal could reach $130 billion. One of the biggest hurdles to the potential deal is the large tax bill Vodafone would have to pay to dispose of its holding in Verizon Wireless. Earlier this year, however, Verizon said it could structure any potential transaction to limit Vodafone's tax liabilities. Verizon has sought for years to buy out Vodafone's 45% stake in Verizon Wireless, the largest U.S. cellphone carrier, but the companies have never been able to agree on price. They remained far apart earlier this year, with Verizon looking to pay around $100 billion and Vodafone hoping for more like $130 billion, people familiar with the matter said at the time. Read more -here-
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