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Will Verizon Be Bought Out?

July 16, 2007 in Wireless Industry News

nd that Vodafone, part-owner of Verizon Communications, is seeking to buy out the rest of the company – to the tune of $160 billion dollars.

Verizon Wireless is jointly owned by Vodafone and Verizon, and a deal would give Vodafone the whole enchilada of a very profitable business.

Investors initially pushed shares of Verizon almost 12 percent – only to end the day up about two and a half percent after Vodafone’s official denial.

Then again, Vodafone Group’s stock finished down a little over one percent and another -0.45% in after hours trading. Double whammy!

Source: “Vodafone not planning Verizon bid” – Reuters

Vodafone Group PLC

The rumormongers are out in full force: this time it’s Verizon and Vodafone.

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