LONDON/NEW YORK, Sept 1 (Reuters) - The board of VerizonCommunication will meet on Monday to vote on a $130billion deal to buy out Vodafone from its joint venture,meaning a full announcement could come after the London marketclose, sources said.
One person familiar with the situation said the boardmeeting would be held on Monday morning New York time and threepeople said this meant the terms of the deal would likely beannounced after the London market closes at 1530 GMT.
Both the telecom giants declined to comment. The Vodafoneboard had been due to meet on Sunday, sources said, but it wasnot clear what their decision was.
Sources told Reuters on Saturday that Verizon plans to payfor half of the purchase with its own stock. For the rest, ithas tapped JPMorgan Chase & Co, Morgan Stanley,Barclays Plc and Bank of America Merrill Lynch to help raise the funds through a mix of bonds and bank loans,the sources said.
The banks have committed to the financing that is expectedto be split evenly among the four.
One person familiar with the proceedings said on Sunday thatVodafone would get $60 billion in cash, $60 billion in Verizonstock, and an additional $10 billion from other smallertransactions that will take the total deal value to $130billion.
Barclays (BARC)
Vodafone (VOD)
