Verizon closes on $130 billion wireless deal

Feb 21, 2014

Verizon has completed an approximately $130 billion deal to take over all of Verizon Wireless.

New York-based Verizon Communications Inc. has said that buying Vodafone's stake would give it greater flexibility to invest in new technologies.

It acquired the 45 percent stake in its wireless division from Vodafone Group PLC, issuing about 1.27 billion shares of to the British cellphone carrier's shareholders.

Both companies' shareholders approved the transaction last month.

Verizon's stock fell 23 cents to $47.89 in Friday morning trading.

Explore further: Verizon gets OK for $130 billion Vodafone deal

4.2 /5 (13 votes)
add to favorites email to friend print save as pdf

Related Stories

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.

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 ...

Recommended for you

Turner channels removed from Dish amid pact spat

8 hours ago

Channels such as Cartoon Network and CNN are no longer part of Dish's programming lineup as a deadline has passed for the satellite TV provider and Turner Broadcasting to renew their distribution agreement.

Verizon reports higher 3Q net income, revenue

9 hours ago

Verizon Communications Inc. on Tuesday reported higher net income and revenue in its third quarter, helped by strong wireless subscriber growth and demand for its high-speed FiOS Internet services.

Amazon, Simon & Schuster sign book retail deal

17 hours ago

Amazon has reached a deal with American book publisher Simon & Schuster, the companies said, though the e-commerce giant remains at loggerheads with France's Hachette over e-book pricing.

User comments : 0