Vodafone Looking at Verizon

[Barry]

Apparently not despite persistent rumors (which means probably yes ). Vodafone denied a report that it was considering a $160 billion bid for US CDMA provider Verizon Communications.

Verizon shares gave up most of those gains after Vodafone's denial, and were up only 1 percent at $42.21. Vodafone shares trimmed their earlier losses to trade down 0.25 percent at 163.04 pence.

A $160 billion bid would represent a 32 percent premium to Verizon's market capitalization of about $121 billion at Friday's close.

Vodafone and Verizon have joint ownership of Verizon Wireless, the second-largest mobile service provider in the United States in terms of subscriber base. Verizon has said it was interested in taking full ownership of the profitable asset.

_________________
Start Posting for Cool Prizes!