It's officially official: Verizon to buyout Vodafone for $130B, will gain full control of Verizon Wireless

It's officially official: Verizon to buyout Vodafone for $130B, will gain full control of Verizon Wireless
It was kind of official on Saturday. It was basically official yesterday. But today, it's officially official. Verizon has confirmed that the rumored deal that would have Verizon buying out Vodafone's 45% stake in Verizon Wireless is going to happen. Verizon has agreed to pay $130 billion in cash and stock to buyout Vodafone, which would finally give Verizon full control of Verizon Wireless.

In an official statement on the deal, Verizon CEO Lowell McAdam said:

Vodafone first invested in Verizon Wireless back in 1999, when it bought a 45% stake in the company for $70 billion. Verizon is expecting that this deal to buyout Vodafone will be completed as soon as Q1 2014, depending on any regulatory investigations. 

source: Verizon

FEATURED VIDEO

Latest Stories

This copy is for your personal, non-commercial use only. You can order presentation-ready copies for distribution to your colleagues, clients or customers at https://www.parsintl.com/phonearena or use the Reprints & Permissions tool that appears at the bottom of each web page. Visit https://www.parsintl.com/ for samples and additional information.
FCC OKs Cingular's purchase of AT&T Wireless