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Negotiators for Verizon Communications truly were laboring this holiday weekend, hammering out a $130 billion deal that will make Verizon the sole owner of Verizon Wireless. Expect a historic announcement Monday.
September 1, 2013
**Editor’s Note: Please click
for a recap of the biggest communications mergers of Q2 2013.**
Negotiators for Verizon Communications truly were laboring this holiday weekend, hammering out a $130 billion deal that will make Verizon the sole owner of Verizon Wireless.
Talks between Verizon and European communications giant Vodafone which owns 45 percent of VzW have been on again, off again for month. But last week it was reported that the companies were close to a deal, and the Wall Street Journal reported on Sunday that negotiators from the two sides have reached an agreement. If it happens, Verizon buying Vodafone’s stake in Verizon Wireless would be one of largest acquisitions in history, in any business sector. Boards from the two companies still need to approve it, but that could happen as early as Monday, the WSJ said.
Don’t expect any major regulatory hurdles since Verizon already is the majority owner and its subscribers would likely see little impact.
Verizon’s executives started openly discussing the possibility of a buyout earlier this year, setting the stage for what could be a historic announcement Monday.
Follow senior online managing editor @Craig_Galbraith on Twitter.
Read more about:Agents
Editorial Director, Channel Futures
Craig Galbraith is the editorial director for Channel Futures and Channel Partners, joining the team in 2008. Before that, he spent more than 11 years as an anchor, reporter and managing editor in television newsrooms in North Dakota and Washington state. Craig is a proud Husky, having graduated from the University of Washington. He makes his home in the Phoenix area.
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