Wireless has all the debt. Current VZ debt to equity ratio is about 9. Meaning that debt holders have a 9 times more claim on assets than equity holders.
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Debt isn't a bad thing in corporations. Plus it was borrowed when rates were excellent. Verizon has plenty OF assets to sell off like wireline and Fios to lower the 65 billion they borrowed. It was a great decision because they don't have consult Vodafone in decisions to get rid of those assets anymore.