Finance / United States
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Verizon In US$10bn Stock Offering
June 2008 | In The NewsSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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US telecoms group Verizon Wireless on June 25 filed to periodically sell up to US$10bn in common and preferred stock, and debt securities, in an effort to repay debt, fund continuing capital requirements and make capital investments. In June 2008 CFW covered Verizon, a joint venture of Verizon Communications and U.K.-based Vodafone, and their successful bid to acquire rural mobile operator Alltel Corp for US$21bn. Verizon has agreed has agreed to pay US$5.9bn in cash for Alltel, as well as taking on US$22.2bn in debt.