Vodafone Group Plc has closed the difference with Verizon Communications Inc and even surpassed the latter in market value. This was achieved through investor confidence in the British carrier's ability to profit if and when it exits the venture with the American wireless company.
Vodafone's stock value rose by 12% since March 5 after Bloomberg had released a report saying Verizon was working to resolve the issues it had with Vodafone. The two firms have discussed option including Verizon's full acquisition of the mobile phone venture of the two giants, Verizon Wireless.
While Verizon is keen on taking full ownership to win over control over the profitable venture, sources say that Vodafone can receive as much as US$115 billion for its stake. The venture has become the largest US mobile phone company according to industry numbers.
The Newbury, England based wireless compaby is the world's second biggest wireless sevice provider after China Mobile Ltd. The share value increaaed by 2.9% to 188.75 pence per share, for a market valuation of GBP92.35 billion or US$140.5 billion. Verizon on theother hand has US$140.1 billion market valuation.
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