- Title: USA: Wall Street edges lower after data; Syria eyed
- Date: 29th August 2013
- Summary: NEW YORK, NEW YORK, UNITED STATES (FILE) (REUTERS) VARIOUS OF EXTERIOR OF VERIZON WIRELESS STORE VARIOUS OF EXTERIOR OF VERIZON CORPORATE HEADQUARTERS
- Embargoed: 13th September 2013 13:00
- Keywords:
- Location: Usa
- Country: USA
- Topics: Economy
- Reuters ID: LVAAE3L0M4P6JDXHJNKA0E381W99
- Story Text: U.S. stocks edged lower at the open on Thursday (August 29) as traders awaited developments in Syria, and as stronger-than-expected U.S. economic data lent weight to the possibility of a wind-down soon in the Federal Reserve's stimulus program.
The Dow Jones industrial average fell 4.07 points or 0.03 percent, to 14,820.44, the S&P 500 lost 1.32 points or 0.08 percent, to 1,633.64 and the Nasdaq Composite added 4.143 points or 0.12 percent, to 3,597.492.
Also, Vodafone Group PLC said it was in talks with Verizon Communications Inc to sell its prized stake in Verizon Wireless, the number one U.S. mobile carrier, in what would be the third-biggest deal of all time.
Verizon has made no secret of its desire to gain full ownership of a network that is growing at a rapid rate and generating billions of dollars in free cashflow.
But Vodafone's Chief Executive Vittorio Colao has bided his time, waiting for the optimal moment to sell the 45 percent stake in a deal that would leave the world's second largest mobile operator with assets in Europe and emerging markets such as India, Turkey and Africa.
Verizon could pay $130 billion (USD), Bloomberg reported late on Thursday, and it is working with several banks to raise $10 billion from each to finance about $60 billion of the deal. An announcement could come as soon as September 2, two sources told the news agency. - Copyright Holder: FILE REUTERS (CAN SELL)
- Copyright Notice: (c) Copyright Thomson Reuters 2013. Open For Restrictions - http://about.reuters.com/fulllegal.asp
- Usage Terms/Restrictions: None
