Verizon Communications preparing Vodafone bid?
Verizon Communications has reportedly hired advisers in preparation of submitting a bid to take full control of mobile subsidiary Verizon Wireless.
Reports indicate the carrier has hired banking and legal advisers ahead of a potential $100 billion cash and stock offer to UK operator Vodafone for its 45% stake in the unit.
Verizon is thought to be considering raising $50 billion in bank financing by taking advantage of low interest rates and increasing its offer through Verizon shares.
Verizon has not yet put forward a proposal to Vodafone for its 45% stake in the joint venture and, when questioned, Verizon spokesman Bob Varettoni declined to comment.
Varettoni did, however, point to an earlier statement where the operator said it would be willing to buy out its venture partner, according to Reuters.
Vodafone could be considering divesting its assets in Verizon Wireless to fund an acquisition of Kabel Deutschland.