Post ID: @2umn+1nkRVEVX
Verizon will be bankrupt next year (2024) before the unions' contract 2026 renewal.
13 replies (most recent on top)
Not until the union dies off. At least til 2026 then prob an extension till 2030
The unions are the blockers to transact these remaining old assets.
Albeit, VZ would get very little in proceeds from Apollo because why would Apollo pay a premium? Apollo, has shareholders as well expecting a return-on-investment.
Global Capitalism >> Apollo Global Financial Management.
Apollo purchased all the VZ's Yahoo assets. Apollo streamlined and made profitable Yahoo. Apollo currently evaluating options to Yahoo divestures back to market or merge with another enterprise.
Possibility exists, as these Yahoo assets could be bundled with X, formerly Twitter.
Apollo is a global asset manager. Thus, Apollo is a private equity fund. The paramount issue is that Apollo will not accept the union as part of the employees for this transaction.
Apollo, in the recent past has done purchases such as these but without the union employees.
Apollo's goal within one-year, fix all issues, correct, refine, make profitable as soon as possible, rebrand, and release back to the public markets or purge the assets and file a loss report to recover the initial investment.
Brightspeed/Apollo can buy it. All our old Executive who knew how to run a telecom company are now running Brightspeed.
Margins are not there for anyone to pick up these assets. Spin off won't happen for the same reason; FCC would block it as it couldn't stand on it's own.
VZ was able to sell nearly all the fGTE assets because they were all profitable with good margins. Money was needed on wasted ventures like Yahoo and Go90.
Maybe Yahoo will buy it,
The purchaser is not going to buy this asset as it is tied to inherit the 25k union associates. And proudly, to also include a NO LAYOFF CLAUSE!!! And furthermore, to include a pension and retirement benefits for existing union members and retired union members.
Currently, there is no telco old line company where a union continues to exist in this day and age.
You’re sofa king we tar did.
No acquirer for this asset because it is worthless. Diminishing return-on-investment. Currently, Verizon continues to operate from a position of weakness and not strength. Therefore, no acquirer for this asset is willing to pay a fair value.
Tomorrow