Verizon’s $100M Bid to Buy Back Network from Vodafone

VZW_cash

Verizon has long desired to gain control over its network, and currently is aiming to make that a reality. Vodafone owns a 45 percent stake in the company, and has a Verizon has raised $100 million dollars to that end. They have presented an option of $50 million in cash and $50 million in stocks. It seems that Vodafone investors aren’t keen on the price of the buyout, and could be possibly seeking more money. As the European market is faltering currently, Vodafone’s stake is providing an influx of necessary revenue. Nevertheless, Verizon has been making a hard push to buy back the other 45 percent of the company. The $100 million might not be right amount, but VZW is definitely hoping that at least it’s a good start.

via ~ Engadget

Source ~ Reuters

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