Verizon, Vodafone set $1.55 bln breakup fee
Sept 3 (Reuters) - Verizon Communications Inc and Vodafone Group Plc agreed to a $1.55 billion breakup fee if their $130 billion deal falls apart.
The company terminating the deal will have to pay the other party the fee within five days by wire transfer, Verizon said in a regulatory filing.
Verizon on Monday agreed to buy out Vodafone's 45 percent stake in Verizon Wireless for $130 billion. The boards of Verizon and Vodafone have unanimously approved the sale, expected to close in the first quarter of 2014.
Verizon shares were down 3.3 percent in premarket trading on Tuesday, while Vodafone's US-listed shares were down 1.3 percent.
- Atheists face death in 13 countries, global discrimination: study
- Mandela signer hits back: I'm sign language champion |
- Missouri executes man for killing good Samaritan motorist in 1994
- Focus turns to Thai military, anti-government protesters tell them to pick sides |
- Google executives' planes saved millions in costs due to error - NASA