I'll disagree with Buckackman. Fairly valid given the reverse question that has been floated given price perspective. Think the money would be better spent in developing markets (including smart phone network in Europe) vs. buying a fairly developed U.S. market. However, still a LOT of value to be unlocked in the spectrum VZW holds so I think EITHER side would be getting a real bargain when weighed against future value. Fair price on trailing.
I'm with you Smalls - VOD wants to divest this minority VZW stake and VZ wants to buy it, simple as that. VOD wants to invest in the EU and it will take a lot of capital to do so. That, along with their investments elsewhere, will require them to get this VZW deal done if they want to move aggressively forward. If ever there was a huge deal ripe to get done, it is it. We need VZ to make up its mind and make a decent offer - financing rates won't stay this low for long!
It would be a waste of time to consider it. Wireless is the only thing that is working for Verizon. Landlines are dead and people are forced into getting them and FIOS, while amazing, is costing them tons of money to deploy in places where people may not want it - rural vs urban.