Verizon CFO Says: "We're Not Worth As Much As You Think"

In what I see as one of the more delicious ironies of the month, the Verizon Communications CFO, Doreen Toben, basically said that analysts have 'overvalued' the company's wireless subsidiary. Now when was the last time you heard a CxO say their company is worth less than what people think? The comments came after Verizon was courting Vodafone to buy out the latter's minority stake in VZW. Apparently, analysts and press were bandying about $38-50 billion as the possible price, and so the CFO is trying to cool down the hysteria by assuring the market that 45% of VZW is not worth that much. Just after the AT&T+BellSouth merger, when rumors of this buyback were rekindled, I wrote that I don't see the value for Verizon in buying Vodafone's 45%, and that the Billions would be better spent on upgrading fiber and other infrastructure. Clearly Verizon disagrees with me in general, but there are limits to what they will pay.
Hide this

Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.

Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.

While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.

–The Techdirt Team

Add Your Comment

Have a Techdirt Account? Sign in now. Want one? Register here

Subscribe to the Techdirt Daily newsletter

Comment Options:

  • Use markdown. Use plain text.
  • Make this the First Word or Last Word. No thanks. (get credits or sign in to see balance)    
  • Remember name/email/url (set a cookie)

Follow Techdirt
Special Affiliate Offer

Essential Reading
Techdirt Deals
Report this ad  |  Hide Techdirt ads
Techdirt Insider Chat
Recent Stories

This site, like most other sites on the web, uses cookies. For more information, see our privacy policy. Got it

Email This

This feature is only available to registered users. Register or sign in to use it.