Vodafone to return $84B of $130B Verizon buyout to shareholders
In a conference call with reporters in order to answer questions on the sale, Vodafone Chief Executive Vittorio Colao said that the company will not be making any major acquisitions, and will instead be following a "balanced approach". So, instead of any major moves, Vodafone is planning to return $84 billion of the Verizon cash and stock to Vodafone shareholders.
The balance of about $30 billion after taxes will be used to pay down debts and to fund a $9.3 billion project to build out high-speed wireless and fixed networks faster. Colao said there may be some smaller acquisitions, but they weren't necessary.