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Spain: As Vodafone leaves US, firm prepares for big changes

By  |  November 21, 2013

Spain-based Vodafone is set to sell its stake in US-based Verizon Wireless to Verizon parent company Verizon Communications, a move that will allow Vodafone to expand throughout the EU but also opens the company up to buyout bids, say reports.

Vodafone is planning to sell its Verizon stake for $130 billion as the company prepares to expand its mobile operations throughout the EU, adding to it Internet, television and telephone services in the next five years, according to CEO Vittorio Calao.

The company is poised to receive buyout offers, however, as reports say AT&T Inc. may be eyeing a buyout bid for Vodafone and could make an offer as early as next year.

Until that rumor proves true, reports say Europe’s largest wireless operator is spending billions on infrastructure upgrades and focusing on emerging markets throughout the globe.

Full Content: Bloomberg

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