Verizon Communications Inc approached AOL Inc about a potential acquisition or joint venture to expand its mobile-video offerings, Bloomberg reported, citing people with knowledge of the matter. Verizon has not made a formal proposal to AOL, and no agreement is imminent, Bloomberg said, citing people who asked not to be named. (bloom.bg/17enf1h)Verizon and AOL were not immediately reachable for comment after regular business hours.A joint venture, if formed, would focus on advertising technology, Bloomberg cited one of the people as saying.Verizon is seeking expertise in online content, mobile video and advertising, according to one of the Bloomberg sources.
AOL Inc. (AOL) is a global Web services company with a range of brands and offerings, and a global audience. Shares of AOL fell by 1.65% or $-0.75/share to $44.74. In the past year, the shares have traded as low as $32.31 and as high as $53.28. On average, 957613 shares of AOL exchange hands on a given day and today's volume is recorded at 548435.
Verizon Communications Inc. (Verizon) is a holding company. Shares of VZ fell by 0.83% or $-0.39/share to $46.57. In the past year, the shares have traded as low as $45.09 and as high as $53.66. On average, 16120700 shares of VZ exchange hands on a given day and today's volume is recorded at 18964458.
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