The respective boards of directors of Vodafone Group Plc and Verizon Communications are expected to meet and decide this weekend on the proposed USD130 billion deal to allow the US telecommunications giant full ownership of Verizon Wireless. The said monetary amount is funded by USD65 billion in debt, according individuals familiar with the transaction.
The deal, which many sources advise may be announced as early as Monday, would be the culmination of Verizon's efforts in the past ten years to gain full control of the top US wireless provider.
The deal is said to be the third largest corporate acquisition at USD130 billion. The transaction would also formalize Vodafone's exit from the US market. Vodafone currently holds 45% of the Verizon Wireless shareholdings, a joint venture formed back in 2000.
Both telecommunications firms declined to make any comment on the transaction.
Under the proposed plan, Verizon would pay for half of the purchase with it own stock. The other half would be paid by funds backed by bonds and bank loans from JP Morgan Chase, Morgan Stanley, Barclays and BofA Merrill Lynch,
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