Verizon to Sell Stock to Pay for 700MHz Winnings
Apr 2, 2008, 4:18 AM by Eric M. Zeman
Verizon Wireless said it plans to sell $8 billion worth of new stock and debt notes in order to pay for the 700MHz spectrum licenses it won from the government. Verizon needs to make a $1.4 billion dollar downpayment on April 3, and will have to pay the remaining $7.5 billion by April 17. Verizon wireless already has over $31 billion in debt, and only $1.15 billion in cash. Verizon's spectrum winnings totaled $9.36 billion.
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Comments
WRONG info
WRONG WRONG WRONG !!! Verizon Wireless is not selling stock ..the employees are the stock holders and VZW is not that far in debt ! ! Verizon land line is in debt and Verizon land line will be selling stock.....this article has some WRONG info....You have to read CNN
wow i didnt know that the VWS CEO reads phonescoop. well at least hes staying up to day with his company lol... 😈
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VZW is in debt?
When I worked for them, they told us quite often that the company was not in debt, and had no need to sell stock. Maybe that was why everyone seemed so pompous. Funny how little us peons really know!
$31 billion sure is a whole lot of debt, especially considering Verizon is the #2 wireless carrier!
Most companies have debt. It's not a big deal. So long as they can generate revenue, in this case by selling stock, they can remain very profitable.
In many cases, debt is preferable to using on hand cash which can be used to invest in other area...
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In many cases, debt is preferable to using on hand cash which can be used to invest in other area...
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Verizon Wireless is owned jointly by Verizon Communications and Vodaphone Group PLC. This article is mainly taking about Verizon Communications Debt, you can tell this by the fact the Verizon Wireless is not a publically traded company and does not h...
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This should be interesting
If not funny to see if anyone comes to VZN's rescue to even buy their stock.
I didn't realize the spectrum cost so much for them. Considering its going to be there for anyone to use, maybe it wasn't a great idea after all to bid?
Still, with whiteboxes failing the FCC, and the timegap on when this spectrum can actually be used, it may be well into next year before we see anything in the retail market.
I didn't realize the spectrum cost so much for them. Considering its going to be there for anyone to use, maybe it wasn't a great idea after all to bid?
Still, with whiteboxes failing the FCC, and the timegap on when this spectrum can actually be used, it may be well into next year before we see anything in the retail market.
I highly doubt VZ will have a problem raising the desired capitol (capital?) through a stock sale. Despite volitility in the communications industry it is and I think will remain a popular investment.
Verizon went all in.
Verizon is betting the farm to be the number one carrier hopefully it works.
