Verizon nears $130 bln wireless deal, to finance about $65 bln-sources
Aug 31 (Reuters) - Verizon Communications is near a $130 billion deal to buy out the 45 percent stake in Verizon Wireless it does not already own from Vodafone Group Plc and plans to raise about $65 billion to fund the purchase, people familiar with the matter said on Saturday.
Boards of Verizon and Vodafone are each expected to meet this weekend to approve the proposed transaction, which could be announced on Monday, the people said.
Verizon has tapped JPMorgan Chase & Co, Morgan Stanley, Barclays, and Bank of America Merrill Lynch to help raise the deal financing through a mix of bonds and bank loans, the sources said. The four banks are also advising Verizon, along with former Morgan Stanley banker Paul Taubman and Guggenheim Partners, the sources said.
Goldman Sachs and UBS are advising Vodafone, the sources said.
Verizon Communications and Vodafone declined to comment. The banks were not immediately available for comment.