Just announced on vz web
11 replies (most recent on top)
Correct me if I am wrong. They bought Teremark in 2011 for for 1.4 billion. They sold data center portion to Equinix for 3.6 billion and cloud to IBM for undisclosed amount. Sounds like they made out on deal?
Who DIDN'T see this coming? Its REALLY REALLY obvious that there are many double agents in the organization working to sabotage the business from within. I wonder which company will get their prize next :-)
Come all come all! Get your pick at swamp meet prices!! If verizon wasn't slimy filthy disgusting verizon, everyone in VES would be investigated and tried for their crimes against the organization and customers.
Only thing left to sell is old(neglected) copper plant, and the few areas that got a proper fios build out. No company will touch that because of union stronghold(which i belong to).
No way to service the massive debt load and keep paying the dividend. Last gasp of compamy...hope some other company bails them out with a merger (unlikely)
Verizon is managed with all the finesse and skill of the DMV !
http://www.lightwaveonline.com/articles/2017/05/verizon-to-sell-cloud-and-managed-hosting-service-to-ibm.html
It means getting rid of Teramark just 4 years or so after buying it......another well thought out and executed plan....jeeeezzzzzz the hits just keep coming around here
OP, What exactly does that mean for Verizon? I know that IBM is trying to get Open Systems away from Verizon.
Gotta Raise some cash so they can pay that dividend.
IBM is just as bad as Verizon when it comes to layoffs. Just look at their layoff forum on here.
Verizon has to sell assets to pay the dividend now since they are negative on FCF.
I hope they keep all of us.
Thank God!