Verizon gets OK for $130 billion Vodafone deal

Jan 28, 2014

Verizon says its shareholders have approved its $130 billion deal to buy the 45 percent stake in its wireless division owned by British cellphone carrier Vodafone.

As part of the , Verizon will issue up to 1.28 billion shares of to Vodafone shareholders. Vodafone Group PLC shareholders also approved the deal at a meeting held earlier Tuesday.

New York-based Verizon Communications Inc. says buying Vodafone's stake will give it greater flexibility to invest in new technologies. Once the deal closes, it will no longer have to share its wireless revenue with Vodafone.

The deal, which is expected to around Feb. 21, needs court approval in the United Kingdom among other customary closing conditions.

Explore further: Vodafone says 'fantastic' Verizon deal will strengthen strategy

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Flush with cash, Vodafone eyes investment

Nov 12, 2013

With a cash infusion coming soon from the sale of its U.S. business, British cellphone company Vodafone on Tuesday shot down speculation it might go "shopping" for new acquisitions, saying it would focus on investing in its ...

Verizon plans $25 bn debt offering: source

Sep 05, 2013

Verizon plans a record $25 billion debt offering as it gathers financing to buy Vodafone's stake in their Verizon Wireless joint venture, a person familiar with the matter said Thursday.

Recommended for you

User comments : 0