Verizon Communications Hires Advisors

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In a move to possibly prepare for a bid, Verizon Communications Inc has engaged the services of several advisers. According to two people knowledgeable about the matter, a possible US$100 billion cash and stock bid is being completed in order to take full control of Verizon Wireless.

The bid would buyout the shares of Vodafone Group Plc, its venture partner. The volume of shares to comprise the US$100 billion bid are the 45% that Verizon Communications does not own and are currently in the hands of Vodafone Group. While there is no formal bid proposal yet, the advisers hired are for banking and legal expertise regarding a possible bid.

One of the sources said that Verizon Communications is hoping for a friendly deal to be forged but would not hesitate to engage a bidding war should Vodafone Group not cooperate with its agenda. The sources also said that there are no guarantees for Vodafone to be interested in deal or if any bid would even materialize from Verizon Communications.

Tags
Vodafone Group, Verizon Communications, Verizon wireless, Bid, Joint venture

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