“LONDON (Reuters) – Verizon Communications would like to buy out Vodafone from their Wirelessjoint venture but will not do so at any cost, its chief executive has told JP Morgan analysts,
In a note to clients, analyst Philip Cusick said Verizon boss Lowell McAdam had said he did not believe a premium would be required to buy Vodafone’s 45 percent stake in the highly successfulVerizon Wireless business, because Verizon already had control through its 55 percent holding.
Shares in both groups are up over 20 percent this year on speculation Britain’s Vodafone could finally exit the leading wireless business in the United States, a partnership the two firms’ formed in 2000.
Verizon management have stepped up the rhetoric in recent months, saying they want to do a deal and two people familiar with the situation have told Reuters that Verizon is working on a possible $100 billion bid to take full control of the asset.
In response, Vodafone has said it has an “open mind” on whether to stay in the business, which makes up around 75 percent of its market value….”
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