Verizon Communications is close to buying the remaining stake in Verizon Wireless from Vodafone Group PLC it does not own for potentially $130 billion, according to people familiar with the talks, in what could be the third-biggest deal of all time.Verizon, the number one U.S. mobile carrier, has made no secret of its desire to gain full ownership of a network that is growing fast and generating billions of dollars in free cash flow, hoping to reap the monetary benefits.Now, rising interest rates, rapidly intensifying competition and Verizon's share price, which is off 12 percent in recent weeks, have lent urgency to get a deal done before raising money becomes too expensive.Across the ocean, Vodafone's Chief Executive Vittorio Colao has bided his time, making it clear he would only sell the 45 percent stake at what he considered the right time and most importantly the right price. The deal would leave the world's second largest mobile operator with assets in Europe and emerging markets such as India, Turkey and Africa and money to give back to shareholders.
Vodafone Group Plc (Vodafone) is a mobile communications company operating across the globe providing a range of communications services. Shares of VOD traded higher by 8.13% or $2.39/share to $31.80. In the past year, the shares have traded as low as $24.42 and as high as $31.02. On average, 7245080 shares of VOD exchange hands on a given day and today's volume is recorded at 65694512.
Verizon Communications Inc. (Verizon) is a holding company. Shares of VZ traded higher by 2.71% or $1.26/share to $47.82. In the past year, the shares have traded as low as $40.51 and as high as $54.31. On average, 10858700 shares of VZ exchange hands on a given day and today's volume is recorded at 36425824.
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