Verizon (VZ), Vodafone (VOD) Pop as Talks Over Wireless Stake Continue
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Price: $39.49 -0.53%
Overall Analyst Rating:
NEUTRAL (
Down)
Dividend Yield: 6.5%
Revenue Growth %: +0.3%
Overall Analyst Rating:
NEUTRAL (
Down)Dividend Yield: 6.5%
Revenue Growth %: +0.3%
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Verizon Communications (NYSE: VZ) and Vodafone (Nasdaq: VOD) are up in early trading Thursday following reports that the two companies are back in discussions over control of Verizon Wireless.
Reports have Vodafone confirming speculation that talks are back on. The company cautioned that no deal on the stake would be certain and discussions could fall apart.
Verizon is said to be negotiating with banks over the tens of billions in loans it would need to complete the deal, which might end up costing the communications giant $100 billion or more to complete.
Earlier in the year, it was said that Verizon wanted to buy Vodafone's 45 percent stake for $100 billion, while Vodafone was looking for something closer to $130 billion. Verizon might use a combination of stock and cash, with loans up to $50 billion, in the potential deal.
Shares of Vodafone are up 7.8 percent while Verizon is 3.6 positive in early trading.
Reports have Vodafone confirming speculation that talks are back on. The company cautioned that no deal on the stake would be certain and discussions could fall apart.
Verizon is said to be negotiating with banks over the tens of billions in loans it would need to complete the deal, which might end up costing the communications giant $100 billion or more to complete.
Earlier in the year, it was said that Verizon wanted to buy Vodafone's 45 percent stake for $100 billion, while Vodafone was looking for something closer to $130 billion. Verizon might use a combination of stock and cash, with loans up to $50 billion, in the potential deal.
Shares of Vodafone are up 7.8 percent while Verizon is 3.6 positive in early trading.
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