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: Why the SIM card has had its day

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

Why the SIM card has had its day

Mar 05, 2015

The small microchips known as "subscriber identity modules" or SIM cards that are required for mobile phones to log on to a phone network will soon be 25 years old. While mobile phones and network technology ...

The UK doesn't yet need net neutrality regulations

Mar 04, 2015

The net neutrality debate in the US has ended, at least for now, with the Federal Communications Commission ruling for stricter regulation of telecoms and internet service providers (ISPs) in order to maintain ...

Italy adopts plans to shift into Internet fast lane

Mar 04, 2015

Italy's government adopted a six-billion-euro plan Tuesday to modernise its Internet network and improve access to broadband in hopes of shedding its reputation as one of Europe's online laggards.

Phone firms and the quest for the 5G Holy Grail

Mar 03, 2015

Lightning-quick downloads, driverless cars and remote surgery: telecom firms are racing to develop a new generation of "5G" mobile networks that could start to change the world in five years.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.