Vodafone Testing History With Second $100 Billion-Plus Deal

Vodafone Group Plc’s planned sale of a stake in Verizon Wireless would mark its second deal topping $100 billion, giving the British carrier another shot at transforming itself and compensating investors who suffered a decade of writedowns.

A sale of the 45 percent holding to Verizon Communications Inc. for about $130 billion would be the biggest transaction ever after Vodafone’s 2000 takeover of Mannesmann AG, which led to years of losses and tens of billions in expenses. A completion of the buyout at that price would surpass Time Warner Inc.’s combination with AOL in 2001, which ended up on history’s list of failed mergers and acquisitions.