NEW YORK – Vodafone says it is in advanced talks to sell its 45 percent stake of Verizon Wireless back to the U.S. cellphone service provider for $130 billion in cash and stock, a deal that would be the second-largest acquisition deal on record if it goes through.
If an agreement is reached, Verizon would own its wireless business outright after buying the stake back from the British cellphone company.
Vodafone said in a statement Sunday there is no certainty that a final deal will be reached. Verizon Communications Inc. declined to comment.
The buyout, if finalized, would be second only to Vodafone’s $172 billion acquisition of Mannesmann AG in 2000, according to research firm Dealogic.
Ford issues recall as steering precaution
Ford is recalling 370,000 cars because potential corrosion of their steering shafts could result in loss of steering. No crashes or injuries have been reported.
The cars include 2005 to 2011 Ford Crown Victoria, Mercury Grand Marquis and Lincoln Town Cars. About 355,000 are in the U.S. and 15,000 in Canada.
Dealers will inspect the cars and may replace the lower intermediate steering shaft and, if necessary, resecure a lower steering column bearing and replace the upper intermediate steering shaft.
Indiana, Ohio and Michigan are among states included in the recall.
Bay bridge damaged in 1989 set to reopen
Crews are on pace to put the finishing touches on a new stretch of the San Francisco-Oakland Bay Bridge, and the span should be ready to open as planned early this week, officials say.
When traffic flows across the new eastern part of the span for the first time, it will do so nearly a quarter-century after a deadly earthquake during the 1989 World Series between the Oakland Athletics and San Francisco Giants collapsed two 50-foot sections of the old structure.
The Bay Bridge failure prompted one of the costliest public works projects in state history. The $6.4 billion project finally draws to a close after decades of political bickering, engineering challenges and billions of dollars in cost overruns.
Yosemite wildfire state’s 4th largest
The wildfire burning in and around Yosemite National Park has become the fourth-largest conflagration in modern California history, fire officials said Sunday as clouds and higher humidity helped crews further contain the biggest blaze in the United States this year.
Although the 2-week-old Rim Fire still is growing, it was 40 percent contained as of Sunday, up from 35 percent a day earlier. Moister air was expected to slow flames from advancing through brush and trees.
Head-on crash kills 6 in Pennsylvania
An SUV crossed into oncoming traffic on a rural northwestern Pennsylvania highway and smashed head-on into another vehicle, killing six people, including two children, authorities said Sunday.
A Jeep Liberty driven by 36-year-old Kathy Douglas of Kane crossed the centerline about 4:30 p.m. Saturday and hit an approaching Pontiac Bonneville in the Allegheny National Forest, killing her daughter and nephew as well as all four people in the sedan, state police said.