Verizon Communications has reportedly hired advisers to prepare $100bn bid for Vodafone’s Verizon Wireless stake.
Verizon already owns 55% stake in Verizon Wireless, which was created by both the firms in 1999 as a joint venture.
Citing two unnamed people familiar with the development, Reuters reported that Verizon has not put a proposal forward to Vodafone yet but it has hired both banking and legal advisers for a possible bid.
One of the sources told Reuters Verizon expects to commence discussions with Vodafone soon for a friendly deal but is prepared to take a bid public if the UK-based firm does not engage in talks.
According to sources, Verizon is ready to push aggressively for a deal and is confident that the company can raise about $50bn of bank financing.
