NEW YORK (AP) — Vodafone says it is in advanced talks to sell its 45 percent stake of Verizon Wireless back to the U.S. cellphone service provider for $130 billion in cash and stock, a deal which would be the second-largest acquisition deal on record if it goes through.
If an agreement is reached, Verizon would own its wireless business outright after buying the stake back from British cellphone company Vodafone PLC.
Vodafone said in a statement on Sunday there is no certainty that a final deal will be reached. Verizon Communications Inc. declined to comment.
The buyout, if finalized, would be second only to Vodafone's $172 billion acquisition of Mannesmann AG in 2000, according to research firm Dealogic.