10th Oct 2013 06:42
LONDON (Alliance News) - Vodafone Group PLC proposed a full merger with partner Verizon Communications Inc. as part of their negotiations earlier this year for the eventual USD130 billion sale of Vodafone's stake in their US joint venture, the Financial Times reported Thursday.
Prior to agreeing the final price for the deal, the third largest in corporate history, Vodafone rejected a USD95 billion offer from Verizon for Vodafone's 45% stake in Verizon Wireless, the newspaper said, citing documents filed on Wednesday by Verizon in New York.
Vodafone management then offered to merge with Verizon to create a global telecommunications giant, the FT said, before talks focussed back on a sale of the joint-venture stake.
By Tom Waite; [email protected]; @thomaslwaite
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