Verizon Wireless closes in on Voda stake
Print storyIt could be yours (for $48bn + debt)
Posted in Mobile, 15th May 2006 09:44 GMT
See what The Register's experts have to say on application security
Vodafone has declined to comment on weekend press reports that it is flogging its 45 per cent stake in US cellco Verizon Wireless.
The Observer reports that US telco Verizon Communications is prepared to pay around $48bn to take overall control of the joint venture. Slap on around $8bn of debt and the total price is expected to be somewhere around $56bn.
One unnamed institutional source told the paper: "Verizon are going to buy out Vodafone...There is only one buyer and I suspect that a deal will be cut sooner rather than later."
If the sale goes ahead, shareholders say they want a chunk of the cash - although it could also prove useful if Vodafone goes ahead with plans to invest in fixed line services such as broadband.®
The future of SaaS and IT infrastructure management
Airport insecurity: the case of lost laptops
Jump start your Application Security initiatives
Avoiding 7 common mistakes of IT security compliance
Securing your Microsoft Internet Information Services (MS IIS) web server
Win a Samsung C6625!
Is your cameraphone an oxymoron?
Windows 7, Bing and security: Mr Ballmer regrets
Sign up, sign up for The Register IT security newsletter