Verizon Wireless Price Tagged At $48B TelecomWeb Rumors rampant on both sides of the Atlantic say Verizon and Vodafone have finally settled on a price for Vodafone's 45-percent share of Verizon Wireless - $48 billion plus assumption of $8 billion in debt. Such a deal reportedly could be done by the end of the month.
The $48 billion is just more than halfway between the $38 billion and the $40 billion Verizon is said to have been offering and the $50 million Vodafone is said to have been demanding. Actually, Vodafone has been protesting that it doesn't want to sell its share in Verizon Wireless, a protest that most in the industry took simply as a bargaining point. Verizon, on the other hand, publicly has made it crystal clear many times over that it is ready to buy the stake if the price is right. It's been coveting total ownership of the carrier ever since Cingular bought AT&T Wireless, passing Verizon in size.In its most recent year-end figures, Cingular claimed 54.1 million subscribers compared with Verizon's 51.3 million . Interestingly, on the same day Verizon released it subscriber numbers, Vodafone said its board had decided against selling its stake in Verizon Wireless for the time being - but it left the door slightly ajar that it might sell it in the future. Vodafone shareholders, meanwhile, have been pressuring the company to cash in on the value of Verizon Wireless because, while it is a valuable asset, it is not providing Vodafone with any actual cash flow that could be used for dividends. Given the overall positions of Verizon and Vodafone, Vodafone looks to have successfully extracted a few extra billion if it has indeed nailed down a $48 billion price tab. The flush of rumors started with reports in the London press yesterday, attributed to unnamed sources. In fewer than 24 hours, multiple publications and wire services were finding their own sources to confirm the information. --------------------------------------------------------------------- Duane Whittingham (N9SSN) - Producer Tom and Darryl Radio Shows Heard on C-Band Analog Satellite (W0KIE) - Telstar 6 (IA6) Ch 1 6.2/6.8 mHz Also on WTND-LP Macomb 106.3 FM, WQNA 88.3 FM, WBCQ 7415 kHz & the Internet. Heard Fridays 9pm ET, Sundays 12am ET and Tues 1am ET (Folk) An Independent Freeform Eclectic Radio Show. http://www.tomanddarryl.org http://www.wtnd.us Reply with a "Thank you" if you liked this post. _____________________________ MEDIANEWS mailing list medianews@twiar.org To unsubscribe send an email to: [EMAIL PROTECTED]
