Feeds

Vodafone denies vapour Verizon bid

Talking telephone numbers

Recommendations for simplifying OS migration

Vodafone has denied rumours that it is considering a leveraged buyout of US giant Verizon.

According to sources quoted on a Financial Times blog today, Vodafone is considering a $160bn bid for the US giant. Vodafone already owns a 45 per cent stake in Verizon Wireless, the group's mobile network, and the larger of its two business units.

The move remains vapourware until more solid evidence emerges: the Financial Times blog notes: "Vodafone has not yet approached Verizon", and merely that "...the audacious plan has been discussed in recent weeks".

In response, Vodafone categorically denied it had any plans to acquire a controlling stake in Verizon.

The deal would create the world's largest telco, and involve loading Vodafone with a potentially crippling $90bn of debt. Verizon has some expensive gambles of its own: the company pumped $18bn into a high-speed fiber infrastructure intended to give it a viable competitor to cable.

Verizon's share price had risen by over 10 per cent before Vodafone denied the blog entry - so someone had a happy Monday.

A more likely scenario, ahead of the company's 24 July AGM, sees Vodafone cashing in on its 45 per cent share in Verizon. A group of investors led by Glenn Cooper and former Marconi boss John Mayo, calling itself Efficient Capital Structures, has succeeded in tabling a sell-off resolution for the AGM.

Vodafone attempted to buy AT&T Wireless in 2004, only to see itself outbid by Cingular. ®

Boost IT visibility and business value

More from The Register

next story
Trying to sell your house? It'd better have KILLER mobile coverage
More NB than transport links to next-gen buyers - study
iWallet: No BONKING PLEASE, we're Apple
BLE-ding iPhones, not NFC bonkers, will drive trend - marketeers
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
Scotland's BIG question: Will independence cost me my broadband?
They can take our lives, but they'll never take our SPECTRUM
NBN Co adds apartments to FTTP rollout
Commercial trial locations to go live in September
Samsung Z Tizen OS mobe is post-phoned – this time for good?
Russian launch for Sammy's non-droid knocked back
Speak your brains on SIGNAL-FREE mobile comms
Readers chat to the pair who flog the tech
prev story

Whitepapers

7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
A new approach to endpoint data protection
What is the best way to ensure comprehensive visibility, management, and control of information on both company-owned and employee-owned devices?