Verizon Down on Verizon Wireless' Plan to Acquire Price Communications

Verizon (VZ Quote) was down 4.6% at midday after Verizon Wireless, which it jointly owns with Vodafone (VOD Quote), announced it would buy the wireless unit of Price Communications (PR Quote).

The deal also calls for Verizon Wireless to assume $550 million in debt. Vodafone was down 2%, Price was up 0.6%.