Last updated: September 01. 2013 4:38PM - 618 Views
Associated Press



FILE - A Tuesday, May 19, 2009 photo from files showing people walking by a branch of Vodafone in central London. Britain's Vodafone PLC, one of the world's largest mobile phone companies, confirmed Thursday that it was in discussions with Verizon Communications to sell its operations in the United States. The British wireless provider is mulling its options for its 45 percent stake in the U.S.'s Verizon Wireless, of which Verizon Communications owns the other 55 percent. Analysts have suggested that Verizon wants to pay around $100 billion for Vodafone’s stake, although reports have said that U.K. group is pressing for as much as $130 billion. (AP Photo/Sang Tan, File)
FILE - A Tuesday, May 19, 2009 photo from files showing people walking by a branch of Vodafone in central London. Britain's Vodafone PLC, one of the world's largest mobile phone companies, confirmed Thursday that it was in discussions with Verizon Communications to sell its operations in the United States. The British wireless provider is mulling its options for its 45 percent stake in the U.S.'s Verizon Wireless, of which Verizon Communications owns the other 55 percent. Analysts have suggested that Verizon wants to pay around $100 billion for Vodafone’s stake, although reports have said that U.K. group is pressing for as much as $130 billion. (AP Photo/Sang Tan, File)
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(AP) Vodafone says it is in advanced talks to sell its 45 percent stake of Verizon Wireless back to the cellphone service provider for $130 billion in cash and stock.


Verizon would own its wireless business outright after buying the stake back from British cellphone company Vodafone PLC.


Vodafone says there is no certainty that a final deal will be reached. Verizon Communications Inc. is declining to comment.


A deal would help Vodafone focus on Europe, while boosting Verizon's quarterly earnings.


The change isn't expected to have much of an effect on Verizon consumers or on its operations. Vodafone had little influence on Verizon Wireless' operations.


Verizon has had a long-standing interest in buying out its partner, but the two companies couldn't agree on a price until now.


Associated Press
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