Vodafone and Verizon ‘restart talks’ over $100bn stake

Vodafone and Verizon ‘restart talks’ over $100bn stake

Verizon has met with banks over the billions of dollars in loans that would be needed to finance one of the largest deals in corporate history.

Talks between the pair had broken down in recent months, but the Wall Street Journal has claimed that both sides fear time was running out for an agreement to be made as interest rates rise and new rivals emerge.

Verizon is reportedly looking to pay around $ 100bn (£64.4bn) for Vodafone’s 45pc stake, while the latter wants closer to $ 130bn.

City analysts have estimated a deal could be worth at least £80bn to Vodafone, creating an unrivalled war chest for more acquisitions and wiping out debt, as well as delivering a bonanza to shareholders. The company is, however, heavily reliant on Verizon Wireless for profits.

Gerard Kleisterlee, Vodafone’s chairman, has previously said that the company remains a “happy” and “comfortable” shareholder.

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