Vodafone wanted to merge with Verizon

By Staff | October 11, 2013 | Last updated on October 11, 2013
1 min read

Eight months before Vodafone sold its stake in Verizon Wireless for $130 billion, it rejected an offer from the U.S. telecom company to merge, the Telegraph reports.

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The details are in Verizon’s latest filing with the SEC. It reveals that in January 2013, Vodafone chief Vittorio Colao rejected Verizon’s offer of $95 billion for his company’s stake, and suggested the two companies merge instead. The two companies continued to negotiate until they reached the $130 billion deal in July.

Verizon shareholders must meet to approve the $130 billion sale.

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Advisor.ca staff


The staff of Advisor.ca have been covering news for financial advisors since 1998.