Deals
Verizon Wants to Buy Back Los Angeles Stake From US Cellular
- Verizon consumer chief says deal needs to be at fair price
- Executive is unclear whether an agreement will be reached
Verizon Consumer CEO Sowmyanarayan Sampath
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Verizon Communications Inc. is interested in buying back US Cellular Corp.’s stake in its Los Angeles business if the companies can agree on a reasonable price, the chief of Verizon’s consumer division said.
US Cellular owns a stake in Verizon’s Los Angeles market segment, and Verizon has long been eager to buy it back, Verizon Consumer Chief Executive Officer Sowmyanarayan Sampath said Monday in an interview. He said the company would only strike a deal if the price were right. Sampath declined to say what Verizon would view as a fair price, and it’s not clear whether an agreement will be reached.