my guess and take -
if VZ offers to buy - 45 % of V OD 's VZ's shares - VZ will ante up - $ 122 B - if ATT comes in too - 125 B
what an interesting deal in the making - - one of the mega deals in my life time .
sitting on 3700 VOD.
"I think the merger or full takeover scenario, although not at the forefront of discussions right now, could actually end up being the more palatable deal."
I agree, but because the EU economic disaster will not end anytime soon (like Japan's), neither VZ nor T will want to take on this burden. I also doubt they'll want to deal with EU regulators, which in many ways are far worse than our own. And then there are all those pesky costly labor and other regulations. This is why VZW is by far VOD's most valuable asset and why they really can't sell it. It would be like keeping your losers and selling your winners.