The Wall Street Journal is reporting that Vodafone has given Verizon Wireless the green-light to make a bid to buy Sprint.
“Verizon Communications Inc., the nation’s biggest phone company, has reportedly won the support of its wireless partner, Vodafone Group PLC, should it decide to make a bid for Sprint Corp., the third-biggest U.S. long-distance phone company.
The Wall Street Journal cited unidentified people familiar with the situation for its report on Verizon’s moves, which come even as Sprint is reportedly near a $35 billion deal to merge with the smaller wireless company Nextel Communications Inc.
Spokesmen for both Verizon and Vodafone had no comment on the report. Verizon shares fell 68 cents to $40.60 in morning trading on the New York Stock Exchange, where Sprint shares rose 76 cents, or 3 percent, to $25.20. Nextel stock lost 47 cents to trade at $29.52 per share on the Nasdaq Stock Market. “
Sources Wall Street Journal, Forbes
Found VIA PhoneScoop
