Merge and we become exposed to whatever messes they are exposed to in Europe. Merging also makes for some leadership issues with differing opinions on how to run things. May not sound like much, but both can become huge headaches that can cost more down the road than just biting the bullet now by buying out.
full buyout is the only way to go .... a merger would give VZ whatever baggage VOD has abroad ..
also consider this:
a buyout means that VZ would own all of the shares .... some or all of which could be retired ...
consider that they will either take the 4.5 bil preferred divs as cash flow , or retire them and save
the payout .. same for the common share divs ... also , the added revs/cash flow will make it
easy to service whatever debt is incurred .... garce