Vodafone Confirms Talks on Selling its Verizon Wireless Stake
The U.K.-based carrier says there is no certainty that a deal will be reached
Thu, August 29, 2013
IDG News Service (San Francisco Bureau) — Vodafone Group is in talks to sell back its 45 percent stake in Verizon Wireless to its partner in that company, Verizon Communications.
Vodafone confirmed the talks on Thursday in response to media reports that the companies were discussing a possible deal worth more than US$100 billion.
"Vodafone notes the recent press speculation and confirms that it is in discussions with Verizon Communications Inc. regarding the possible disposal of Vodafone's US group whose principal asset is its 45 percent interest in Verizon Wireless. There is no certainty that an agreement will be reached," the company said in a statement on its website.
There have been reports of a possible buyout of Vodafone's minority stake in the past, with the companies reportedly unable to agree on a price. Such a deal would make Verizon the full owner of the mobile company that bears its name, which is the largest in the U.S. Vodafone, based in the U.K., owns mobile operators in several countries and has benefited from growth at Verizon Wireless amid the economic slump in much of Europe.