Latest News: Technology |  Celebrity |  Movies |  Apple |  Cars |  Business |  Sports |  TV Shows |  Geek

Trending

Filed under: News | Technology News

 

Verizon agrees to acquire Vodafone's 45 percent share of the company

Sep 2 2013, 9:00pm CDT | by

1 Updates
Verizon agrees to acquire Vodafone's 45 percent share of the company
Getty Images
 
 

YouTube Videos Comments

Full Story

Verizon agrees to acquire Vodafone's 45 percent share of the company

The deal has been a long time coming. Verizon has finally announced today that it has agreed to acquire Vodafone's 45 percent share of the company. It's worth noting that Vodafone helped create Verizon in 1999, when Bell Atlantic agreed to launch a new wireless brand in the U.S.

The deal has been "unanimously approved" by the board of directors at Verizon and Vodafone. Under the agreement, Verizon will purchase the shares at $130 billion, with $58.9 billion of the total sum to be paid in cash and $60.1 billion to be paid in the form of Verizon stocks. The remaining 11 billion will be paid through smaller transactions.

Verizon expects the deal to close in Q1 next year, assuming that it passes the regulatory approvals and the approval of shareholders.

The timing is deemed perfect for both companies. For Verizon, in spite of the additional debt due to the deal, this means that the number one carrier in the U.S. will gain 100 percent full ownership of the company. As a wholly owned entity, Verizon will be better equipped in taking on the tough emerging competition.

On the other hand, the deal also means that Vodafone will be leaving its empire in the U.S. But it could also mean opportunity for the British telecom, as it can now invest extra cash on its vast European business

 

 

You Might Also Like

Updates


Sponsored Update


Advertisement


More From the Web

Shopping Deals

 
 
 

<a href="/latest_stories/all/all/21" rel="author">Gene Ryan Briones</a>
Gene Ryan Briones (Google+) is a technology journalist with a wide experience in writing about the latest trends in the technology industry, ranging from mobile technology, gadgets and robots, as well as computer hardware and software.

 

 

Comments

blog comments powered by Disqus

Latest stories

Lolita Richi is another new Human Barbie
Lolita Richi is another new Human Barbie
First it was a Barbie Doll by the company called Mattel. And now the plastic sample has inspired a real life version once again. Another new Human Barbie is Lolita Richi who is just 16-year-old and claimed that she never ever had plastic surgery.
 
 
Jill and Derick Dillard Are Expecting a Baby
The happy couple, who are due in March, have been having fun sharing their news with their family.
 
 
Kate Upton takes Ice Bucket Challenge
Kate Upton takes Ice Bucket Challenge
Kate Upton and her boyfriend Justin Verlander also took the viral Ice Bucket Challenge to support ALS Foundation. See the video of Kate Upton completing the Ice Bucket Challenge below.
 
 
Anna Nichole Smith Estate Loses Case for 44 Million
Anna Nichole Smith Estate Loses Case for 44 Million
Her daughter will get nothing from late husband.
 
 
 

About the Geek Mind

The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.

The “geek mind” is concerned with life, in all its different forms and facets. The geek mind wants to know about societal and financial issues, both abroad and at home. If a Fortune 500 decides to raise their minimum wage, or any high priority news, the geek mind wants to know. The geek mind wants to know the top teams in the National Football League, or who’s likely to win the NBA Finals this coming year. The geek mind wants to know who the hottest new models are, or whether the newest blockbuster movie is worth seeing. The geek mind wants to know. The geek mind wants—needs—knowledge.

Read more about The Geek Mind.