This billion dollar company, Verizon Communications Inc has been preparing a $100 billion for the bidding of their joint partner Vodafone Group PLC to take a full control and management for Verizon wireless and for many confidential reasons, according to sources.
The Verizon Communications Inc owns a 55% share from the Verizon wireless, the bid is not yet proposed or forwarded to Vodafone, but the company has hired legal advisers and banking processors to prepare for that possible bid.
The hope of Verizon today is to discuss it with Vodafone for friendly dealings, at the same time is prepared for the public bidding that is if the British company does not want to engage in simple and private discussions, the sources added.
Over the years, the Verizon Communications Inc has already made a plan to buy Vodafone Group PLC, their joint venture. Vodafone is the number one leading wireless carrier throughout the United States. A reliable source has stated that Verizon becomes aggressively prepared for the bid.
Verizon is actually benefiting from the low interest records and is confident to raise a bank financing for up to $50 billion. The bid implies to pay the overall dealing and shares, many discussions have remained confidential.
The authorities of Verizon have been discussing details about the potential bidding next week during their regular meeting held prior to the annual shareholder meeting of the company, according to one reliable source.
Bob Varettoni, the Verizon spokesman has refused to comment, but he pointed out a statement of the U.S. telephone company’s early this month, which state that is a willing Vodafone buyer can share their venture in Verizon Wireless.
A full ownership for growth, flexibility and profit generating wireless business are what the Verizon Companies need. They want to take a full control of the business to come up greatest innovations.
At 2004, Verizon actually reached a good closure in dealings, when Vodafone attempted to bid for AT&T Wireless. The deal would give Vodafone a chance to pass Atlantic if the bidding was not lost to Cingular,
If it happens, any deal would come at the right time especially when the area of telecommunication has done any consolidation endeavors. Just like in MetroPCS Communications Inc, where the shareholders have voted to approve their planned merging for the number four service provider of US wireless, T-Mobile USA. The T-Mobile USA is a Deutsche Telekom AG.