Vodafone's sale of ownership of joint venture to Verizon Assignment

Vodafone's sale of ownership of joint venture to Verizon - Assignment Example It is expected that if the deal goes through successfully then it will be one of the biggest in the history of Merger and Acquisition (Financial Times, 2013). History of Joint Venture In 2004, Vodafone was close to sell their shares to Verizon Wireless but their initiative did not materialize then primarily due to Vodafone’s failure to bid for AT&T Wireless. The Chief Executive officer of Vodafone at that time, Arun Sarin, stated that both Verizon and Vodafone were interested in bigger stakes in their joint venture and both were unwilling to forego majority ownership (Yahoo, 2013). Vodafone entered the United States market in the year 1999 through a series of deals that ultimately resulted in the formation of Verizon Wireless in the year 2000, with Verizon Communications holding majority 55% stake and Vodafone the rest. ... Arun Sarin, who led Vodafone from 2003 to 2008, and the current CEO of Vodafone Vittorio Colao, has resisted the move by Verizon. The resistance of Vodafone was often made in the face of investor that demands for sale. Verizon Wireless became the largest telecom operator in the United States, a growing market that boasts higher prices and margins compared to Europe (BBC, 2013). The subsequent CEO of Vodafone Plc, Vittorio Colao, clearly stated that the company was still interested to sell the stake of Vodafone and dilute ownership but only when they get the right price in the sense that odds seeming favourable to owners of Vodafone Plc. Since then five years have gone by and it seems that Vodafone’s definition of the right time appears to be at present as evident from the official announcement made on the 29th of August 2013. The company has publicly announced that Vodafone Group Plc was officially negotiating with Verizon Communications to sell its stake in Verizon Wireless. In the past when Verizon initially offered to buyout Vodafone through Joint Venture, the company was valued at $ 100 billion. But the deal failed since Vodafone’s offer to sale its stake was valuing the entity at approximately a little over $130 billion. A popular article in The Wall Street Journal stated that Verizon Communications Inc. had lost a golden chance to get full control of one of the most active telecom companies in the world and its wireless joint venture. The company agreed to shell out billions more than it had to if the company had decided to buyout its partner in the past. As Verizon Wireless resumed dividend payouts, Vodafone has received $ 11.5 billion (? 7.34 billion) from the

How engineering has a negative impact on the natural environment Essay

How engineering has a negative impact on the natural environment - Essay Example Conferring to Balaban (2012), constructions are huge contributors to ecological deterioration. Moreover, it is quite clear that additional actions are required in order to make the building activities and the built environment ecological. Construction activities are among the major exploiters of both non-renewable and renewable natural resources. It depends profoundly on the natural environment to acquire raw materials that are used in these activities. These raw materials comprise of sand, timber, and aggregate for the construction process. According to Horvath (2004), the construction activities devours 40% of the globe’s sand, gravel, and raw stones and 25% of the virgin timber annually. Additionally, it devours 16% of water and 40% of the energy. The mining of these natural resources brings about permanent alterations to the natural ecology of the coastal areas and the countryside, both from a scenic and an ecological point of view. The following transformation of these zones into geographically dispersed locations not only brings about extra consumption of energy, but also upsurges the volume of particulate matter into the air. Construction activities and the extraction of raw materials also contribute to the build-up of pollutants in the air. The United States construction activities done by engineers is responsible for 20% of the waste found in water, 40% of the emissions to the atmosphere and 13% comprise of further releases. Dust and other releases comprise of particular poisonous substances such as sulp hur oxides and nitrogen. They are released in the course of transportation and production of materials along with from site activities. They have triggered serious dangers to the natural ecology. Further, dangerous materials like chlorofluorocarbons (CFCs) are applied in fire-fighting systems, refrigeration plants, air conditioning, and insulation and have serious effects on the ozone layer. The ozone is a vapour