Further to my week-end post on this massive deal Vodafone last night issued this statement
Vodafone confirms that it is in advanced discussions with Verizon Communications Inc regarding the disposal of Vodafone’s US group whose principal asset is its 45% interest in Verizon Wireless for $130bn.The consideration would substantially comprise a mixture of Verizon common stock and cash
Just how much of this deal will have FX implication/impact is not yet known but it has understandably given rise to some GBP strength for a while now.
Market talk is a figure around USD60 bln.The deal is due to be announced today ( no time set as yet ) and hopefully we shall learn more then.
GBPUSD still looking perky around 1.5550. EURGBP holding support at 0.8485 for the moment at least.
