Fergie's Tech Blog

Verizon Approaches Vodafone Over Wireless Stake

U.S. telecom giant Verizon Communications has made an informal approach to Vodafone Group Plc about buying the latter's 45 percent stake in Verizon Wireless for about $40 billion, British newspaper the Business reported on Sunday.

Verizon is under pressure to consolidate control of Verizon Wireless in the wake of AT&T's planned acquisition of BellSouth, which will give AT&T complete control of top U.S. wireless company Cingular Wireless.

posted by Fergie @ 3/12/2006 12:27:00 PM