SoftBank to Vodafone seek growth as deals top $80 billion

Global telecommunications companies are chasing deals from Kansas to Munich in a quest for revenue growth that could lead to the biggest year for mergers in the industry since at least 2006.

More than $80 billion in telecommunications and cable transactions have been announced or completed this year as companies from Dish Network Corp to Japan's SoftBank Corp to the UK's Vodafone Group Plc prowl for acquisitions. If Verizon Communications Inc forges ahead with a bid for Vodafone's stake in Verizon Wireless, deal volume would more than double, approaching the level of seven years ago, data compiled by Bloomberg show.

Companies are looking to grow through acquisition as demand slows for wireless and internet services, and they're seeking scale so they can afford to build the high-speed networks necessary for the latest mobile and video offerings. Bidders are clashing with each other around the globe as they compete for a shrinking pool of potential partners.

"Growth prospects are scarce and money is cheap," said Todd Lowenstein, portfolio manager with Highmark Capital Management in Los Angeles. Acquirers are going after "valuable assets that are likely to be put to better use in a combined company".