Verizon Wireless is a joint venture of American telecommunications company Verizon Communications and U.K. based Vodafone. Verizon Communications owns around 55% and Vodafone owns 45% of Verizon Wireless. There are reports floating around that Verizon recently made a $100 billion offer for the rest of the ownership in Verizon Wireless.
Unfortunately, six major investors rejected the Verizon’s terms for the acquisition, according to Reuters. The investors want $120 billion or acquire Vodafone outright. The six shareholders own a total of 1.3 billion shares of Vodafone stock.
One of the reasons why Vodafone investors are not willing to give up Verizon Wireless for an undervalued price is because it is the European telecommunication company’s best performing asset.