Citi: Comcast Should Buy Verizon To Extend Internet

7/26/17

Verizon's (VZ +0.8%) been floating any number of acquisitions (with chatter lately focused on DIS) in recent months, to shake off a challenging set of options for revenue growth, but Citi has a more definitive idea: Now-bigger Comcast (CMCSA +0.3%) should buy the carrier.

It would be a megadeal with Comcast now worth about $190B and Verizon at a market cap of $182B. But both companies need to push fiber deeper into neighborhoods and Verizon would give Comcast an avenue to stretch its Internet offering outside the home, writes analyst Jason Bazinet.

He believes there's more than $2B in annual synergies in the deal and Verizon could come cheaper after selling some of its assets ($32B worth).

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