Vodafone Confirms Talks On Disposal Of Stake In Verizon Wireless JV

(RTTNews) - Responding to the recent press speculation, British telecom giant Vodafone Group Plc. (VOD, VOD.L) confirmed Thursday that it is in discussions with US Telecommunications giant Verizon Communications Inc. (VZ) regarding the possible disposal of Vodafone's 45 percent stake in Verizon Wireless joint venture.

There is no certainty that an agreement will be reached, Vodafone said.

On Wednesday, the Wall Street Journal reported that Verizon Communications renewed talks to buyout Vodafone Group's 45 percent stake in the Verizon Wireless joint venture. The stake purchase could reportedly cost Verizon well over $100 billion.

Verizon has been contemplating the buyout of the stake several times in the past decade, but pricing has been the biggest stumbling block along with the risk of raking up a huge tax bill nearing $10 billion.

The closest they came to reaching a deal was in 2011. Talks have also failed as recent as earlier this year when Verizon was looking to pay about $100 billion for the stake, but Vodafone was hoping a consideration in excess of $130 billion.