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29 August 2013 0 Comments

Vodafone confirms talks to sell Verizon stake

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LONDON (AP) — Vodafone, one of the world’s largest mobile phone companies, has confirmed it is 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.

Vodafone, which has wide-ranging interests and is expanding in Europe, has long been rumored to be interested in a U.S. exit.

Net income at Verizon Communications was $2.25 billion last year.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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