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Verizon wants all of Verizon Wireless — and it’s prepared to spend big bucks to get it.
The company is in advanced talked with Vodafone, the European carrier that holds a 45 percent stake in Verizon Wireless, to completely buy out Vodafone’s stake in the partnership for around $130 billion, reports Bloomberg. (Verizon’s entire market cap is slightly more than $130 billion, to put this massive deal into context.)
In a statement last night, Vodafone confirmed that the two companies are in discussions, but noted that “there is no certainty that an agreement will be reached.” In March, we heard that Verizon was trying to strike a deal with Vodafone that could have included a merger between the companies.
Verizon Wireless was born from a joint venture between Bell Atlantic (which later became Verizon) and Vodafone in 1999. Over the years, Verizon hasn’t been shy about saying it wants to buy out Vodafone. Considering that Verizon Wireless is the company’s most profitable division, it makes complete sense for Verizon to do whatever it takes to own the entire thing.
By having full control of its wireless division, Verizon could experiment with interesting new subscription plans and creative new wireless business ideas.