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Verizon in plans of Selling Phone Lines For $8 Billion

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Thursday, May 11th, 2006 | Related entries: General, Internet, Wireless

Verizon logo Verizon Communications Inc. may trade some of its established phone lines in two deals that could bring as much as $8 billion, according to a report on the Wall Street Journal’s website on Wednesday.

One deal, involving packages of access lines in three U.S. states, Vermont, New Hampshire and Maine, could be valued at $2 billion to $3 billion, according to the report, which quotes anonymous sources.

Another deal involving lines in Indiana, Illinois, Ohio and Michigan could be esteemed at $4 billion to $5 billion, the report said.

The report claims that the potential sales are part of the company’s strategy to concentrate on its wireless and high-speed Internet businesses, according to the report.

It has announced digital television services over its high-speed internet lines in some U.S. regions including New York and California.

Verizon is also in talks to acquire the 45 percent stake in Verizon Wireless that it does not own from Vodafone Group Plc., sources said.

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