Verizon buys out Vodafone’s half of the company in $130 billion deal

September 2, 2013
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Between ongoing talks for the past few months, not to mention several reports this weekend it appears that Verizon Wireless has sealed the deal and bought out the 45% of Vodafone's stake in the company. If you had been paying attention you knew this was in the works, but we can now confirm it is a done deal coming in at roughly $130 billion.

This morning Verizon has posted a confirmation and announced the deal, which should be a pretty big move considering they'll now own 100% of what they call an “industry-leading wireless carrier.” Verizon owns the company outright now.

Voted for and cleared in a unanimous vote both by Verizon and Vodafone locked this up over the weekend. However, that doesn't mean this is for sure a done deal. The buyout as expected will still be subject to regulatory approvals as well as the approval from the shareholders. So they have a few more hurdles to get over.

The roughly $130 billion deal is a mix of cash and stocks, and we're being told they expect the transaction to close immediately. Verizon also confirms that owning 100% stake in the company will "Enhance Ability to Provide Customers with Seamless and Integrated Services". We don't know what types of changes this will bring for the consumer, and will have to wait and see.

VIA: SlashGear


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