According to details leaked by insiders close to the nation’s largest wireless carrier, Verizon wants to reclaim all of Verizon Wireless.
We’re told Verizon is now in advanced talks with Vodafone, the European carrier that presently holds a 45 percent stake in Verizon Wireless.
VentureBeat reports that Verizon wants to “completely buy out Vodafone’s stake” in the partnership.
Doing so, however, may cost upwards of $130 billion. That’s a huge chunk of cash considering that Verizon’s entire market cap is comparable to that amount.
Verizon Wireless was born from a joint venture between Bell Atlantic (which later became Verizon) and Vodafone in 1999. Over the years, Verizon hasn’t been shy about saying it wants to buy out Vodafone. Considering that Verizon Wireless is the company’s most profitable division, it makes complete sense for Verizon to do whatever it takes to own the entire thing.
Verizon remains hush-hush about the matter, but Vodafone confirms that talks are ongoing although “there is no certainty that an agreement will be reached.”