Verizon Communications Inc. has hired banking and legal advisers for a possible $100 billion bid to take full control of Verizon Wireless, Reuters news agency reported Wednesday on its website, citing two unnamed sources.
Verizon, which already owns 55% of Verizon Wireless, is seeking to start discussions with joint venture partner Vodafone Group PLC soon for a friendly deal, but is prepared to take the bid public if the British company doesn’t engage in talks, the report cited one of the sources as saying.
The U.S. telecommunications company is confident the company can raise about $50 billion of bank financing, and it plans to pay for the rest of the deal with its own shares, according to the report.
Verizon is ready to push aggressively for a deal, though it isn’t guaranteed that Vodafone will be interested or that any bid will materialize, the report said, quoting the sources.