Verizon Communications and Vodafone announced a deal worth $ 13 billion on Monday , which will allow U.S. telecom giant Verizon Wireless' complete control of the final plan approved by the Board , said a person familiar with the matter .
Vodafone said in a statement late Sunday , said it is in advanced talks with Verizon to sell its stake in the joint venture 45% stake for $ 130 million, including cash and common stock , but there is uncertainty will reach an agreement .
"Will be held as soon as practicable make a further announcement ," it said transaction , exit at the largest U.S. mobile operator.
Under the proposed terms of the agreement , Vodafone will receive $ 6,000 billion in cash , $ 6 billion of Verizon's stock and an additional $ 10 billion smaller transactions , the total value of the transaction will take $ 130 billion, up two people familiar with the matter said on Saturday .
Fund the cash portion of the transaction , Verizon company has lined up $ 6.5 billion financing four major banks : JP Morgan Chase, Morgan Stanley , Barclays and Bank of America Merrill Lynch, they said. The bank has committed financing is expected to be split in four uniform, two people said.
The terms of the share price is expected to be complete after the announcement after the market closed in London on Monday , Verizon Board of Directors met earlier in the day to vote the proposed transaction , a person familiar with the matter told Reuters reporters .
Informed sources said that Vodafone's board plans to meet on Sunday to approve the agreement . Both groups declined to comment .
If the transaction is completed, will end one of the longest running enterprise bracket, there are times in which both partners see seek to buy at a weak moment . For Verizon, which means that it no longer has a Verizon Wireless generated billions of dollars in cash.
Vodafone CEO Vittorio Colao will get a war chest of cash returns to shareholders and may be acquired in order to strengthen the Group's operations in Europe and emerging markets .
All people have asked not to be identified because the matter is not public .
High profits
Over Veri zon Wireless will mark the climax of the agreement , once again , intermittent discussions as early as 2004 , when AT & ? company's wireless business , there will be need it shed its stake Verizon Wireless Mobile Vodafone bid.
England lost the bid for the company , and has since held shares of Verizon Wireless , and its exposure to the highly profitable U.S. wireless market , said Verizon only sell if the price offered is more valuable than the status quo , its shareholders.
In the $ 13 billion U.S. dollars , which will be the third largest corporate deal of all time .
Ten non- Vodafone investors told Reuters last week , told reporters that $ 13 billion would be " a good price " , the shareholders would welcome .
" Colao do a good job in the past five years he has sold complete and not to the United States sooner . There were calls for him to sell the U.S. business three or four years ago, people and clearly it was the right thing to do not come to do this , because it is during this time enormous growth value .
"In the big picture , I think the management has done a very good job , and if they get the brewing price of Verizon, they will be treated as a hero ."
Serious negotiations picked up a few weeks ago , such as Verizon growing concern that the window of opportunity closed due to rising interest rates , their stock prices.
Prompting Verizon's proposed offer price from $ 100 billion, which had initially floated to about $ 130 billion, sources said.
Even after the price bump , the deal is expected to increase the profitability of Verizon sources said.
Another obstacle to a deal has been a huge tax bill for Vodafone sales , according to Verizon Wireless' massive growth , because it is based possibilities. However, sources said the deal would constitute such a way that Vodafone's tax bill may be reduced to approximately $ 500 million U.S. dollars .
Transaction will increase the spate of telecommunications acquisitions in Europe and the United States this year . Recently, Japan's Softbank control of the company , the third largest U.S. wireless service provider Sprint Nextel Corp. , $ 21.6 billion deal , you can make the U.S. market more competitive .
Although the overall M & A activity is still lower than this time last year , the telecommunications sector has been a bright spot trading decisions . According to Thomson Reuters data , telecommunications transactions were up 36 percent this year, 358 transactions worth 60.9 billion, not including potential Verizon, Vodafone deal.



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