Vodafone Nears $130 Billion Deal With Verizon

Posted at 10:59 AM, Sep 02, 2013
and last updated 2013-09-02 10:59:30-04
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HONG KONG (CNNMoney) British telecom giant Vodafone said Monday that it is in advanced discussions to sell its stake in Verizon Wireless back to America’s largest wireless provider.

The deal, valued at $130 billion, would give Verizon 100% control of Verizon Wireless if completed. Vodafone (VOD) currently owns 45% of the venture.

Vodafone cautioned that there is no guarantee that an agreement will be reached, but said that the deal would consist of a mixture of Verizon common stock and cash.

“A further announcement will be made as soon as practicable,” the company said in a statement. Verizon declined to comment.

If completed, it will be one of the largest deals in corporate history. Vodafone paid a record $180 billion for Germany’s Mannesmann in 2000.

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