Verizon Communications is near a $130 billion deal to buy out the 45 percent stake in Verizon Wireless it does not already own from Vodafone Group and plans to raise about $65 billion to fund the purchase, people familiar with the matter said on Saturday.
Boards of Verizon and Vodafone are each expected to meet this weekend to approve the proposed transaction, which could be announced on Monday, the people said.
Verizon has tapped JPMorgan Chase, Morgan Stanley, Barclays, and Bank of America/Merrill Lynch to help raise the financing through a mix of bonds and bank loans, the sources said.
(Read more: Vodafone investors split on best use of windfall