Reginal Thomas
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Vodafone Is In Talks With Verizon To Sell Its Stake In Verizon Wireless For $130 Billion

Vodafone Group PLC (VOD.L) is in talks with Verizon Communications Ine. (NYSE:VZ) to sell its 45% take in their joint venture Verizon Wireless for $130 billion. Verizon is working with a couple of different banks to raise $10 billion from each of them to finance $60 billion of the deal. 

This is a great way for Vodafone to come up with some big cash, since its revenues in the European markets have gone down. The news of the deal has already helped Vodafone, their shares are up 9% since rumors of the deal hit the internet, it is currently trading at $207, a 12 year high.