Vodafone Confirms Talks to Sell Verizon Stake
Vodafone today confirmed reports that it is in talks with Verizon Communications to sell its 45% stake of Verizon Wireless. Verizon Wireless is a joint venture between Verizon Communications and Vodafone. The companies held talks earlier this year, but no deal was reached. The two firms rekindled their discussions in July due to changes in the financial markets that make the deal more attractive to both companies. Verizon is working with banks to raise about $60 billion to help with the buyout. The total cost of the deal is said to between $100 and $130 billion. Vodafone said that it would use any funds raised by the sale to help with other acquisitions and to pay down debt.
Verizon Talks Up Android Pay, Says Still Looking at Samsung Pay
Verizon Wireless today took the time to tout the benefits of Android Pay, the new mobile payment app and service from Google. Android Pay is a relaunch of Softcard, which Google bought from Verizon (and AT&T/T-Mobile) earlier this year.
Dish Seeking Cash for Possible T-Mobile Deal
Dish Networks is discussing loans of $10 to $15 billion with banks, reports the Wall Street Journal, which it would use to finance a merger with or acquisition of T-Mobile. Dish and T-Mobile are believed to be holding merger talks, though a deal is not imminent.
Verizon Picks Up XO's Fiber Network to Beef Up Backhaul
Verizon Communications today said it has agreed to acquire XO Communications' fiber business for $1.8 billion. The deal, says Verizon, will help it serve its enterprise and wholesale customers, as well as allow Verizon to further densify its cellular network.
Verizon to Buy Yahoo's Internet Business for $4.8B
Verizon Communications today said that it has agreed to buy Yahoo's core internet and search businesses for $4.83 billion. Yahoo's properties will join AOL under Verizon's ownership, to be managed by Marni Walden, EVP and President of the Product Innovation and New Businesses organization at Verizon.
aka... buy T-Mobile U.S.