Verizon Communications Inc Chief Executive Lowell McAdam said the company is not planning any major acquisitions, following a report that Verizon had approached AOL Inc for a potential deal. "I think AOL along with lots of other media companies are potential for us to do partnering, on a commercial basis or whatever," McAdam said at a conference on Tuesday."But to say that we are having significant acquisition discussions is really not accurate," he added.Bloomberg had earlier reported that Verizon was trying to sign an acquisition or joint venture deal with the digital media company to expand its mobile-video offerings.
AOL Inc. (AOL) is a global Web services company with a range of brands and offerings, and a global audience. Shares of AOL traded higher by 4.4% or $1.97/share to $46.71. 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 3461686.
Verizon Communications Inc. (Verizon) is a holding company. Shares of VZ traded higher by 1.01% or $0.47/share to $47.04. 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 13246633.
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