Key Developments: Verizon Communications Inc (VZ.N)

VZ.N on New York Stock Exchange

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27 May 2015
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Latest Key Developments (Source: Significant Developments)

Verizon Communications Inc reaffirms FY 2014 revenue guidance
Thursday, 24 Apr 2014 07:32am EDT 

Verizon Communications Inc:Continues to target consolidated top-line growth of 4 percent for FY 2014.Reported revenue of $120.5 billion in FY 2013.FY 2014 revenue of $124.1 billion - Thomson Reuters I/B/E/S.  Full Article

Cincinnati Bell to sell Wireless Spectrum Licenses to Verizon Wireless
Monday, 7 Apr 2014 07:00am EDT 

Cincinnati Bell Inc:Enters into agreements to sell wireless spectrum licenses and certain related assets to Verizon Wireless.Cash and an assumption of certain Cincinnati Bell liabilities with a total value to Cincinnati Bell of about $210 mln.Stephens Inc. is acting as sole financial advisor to Cincinnati Bell.Cravath, Swaine & Moore LLP is acting as legal counsel, and Bingham McCutchen LLP is acting as regulatory counsel to Cincinnati Bell in this transaction.  Full Article

Verizon Communications Inc approved share repurchase
Wednesday, 12 Mar 2014 08:00am EDT 

Verizon Communications Inc:Authorizes to repurchase up to 100 million shares of its common stock.  Full Article

Verizon Communications Inc declares quarterly dividend
Monday, 10 Mar 2014 03:00am EDT 

Verizon Communications Inc:Says declares a quarterly dividend of 53 cents per outstanding share, unchanged from the previous quarter.The dividend is to be paid on May 1 to shareowners of record at the close of business on Apr 10.  Full Article

Verizon Communications Inc declares quarterly dividend
Friday, 7 Mar 2014 04:33pm EST 

Verizon Communications Inc:Declares quarterly dividend of $0.53 per outstanding share.Payable on May 1 of record at the close of business on Apr. 10.  Full Article

Verizon Communications Inc gives FY 2014 revenue guidance in line with analysts' estimates - Conference Call
Monday, 24 Feb 2014 08:30am EST 

Verizon Communications Inc:Targets 4 pct topline growth for FY 2014.Reported revenue of $120.5 billion in FY 2013.FY 2014 revenue of $125.0 billion - Thomson Reuters I/B/E/S.  Full Article

Verizon Communications Inc completes acquisition of Vodafone Group Plc's 45 pct indirect interest in Verizon Wireless
Friday, 21 Feb 2014 09:36am EST 

Verizon Communications Inc:Completes acquisition of Vodafone Group Plc's 45 percent indirect interest in Verizon Wireless in a transaction valued at about $130 billion.As previously announced, pursuant to the stock purchase agreement, Verizon issued 1,274,764,121 common shares to shareholders of Vodafone as the stock portion of the consideration for Vodafone's 45 percent indirect interest in Verizon Wireless.Says it has used proceeds from capital markets transactions occurring in September 2013 and February 2014, as well as $6.6 billion borrowed on Feb. 21 under its Term Loan Credit Agreement, for the payment of the cash portion of the consideration to Vodafone and related fees and expenses.Guggenheim Securities LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Paul J. Taubman served as lead financial advisers to Verizon.Barclays and BofA Merrill Lynch served as financial advisers to Verizon.Wachtell, Lipton, Rosen & Katz and Macfarlanes LLP served as transaction counsel to Verizon.Debevoise & Plimpton LLP advised Verizon on its debt financing.  Full Article

Verizon Communications Inc announces number of common shares expected to be issued to Vodafone shareholders
Wednesday, 19 Feb 2014 08:51am EST 

Verizon Communications Inc:Says it expects to issue 1,274,764,121 shares of Verizon common stock to shareholders of Vodafone Group Plc.Says issues in connection with Verizon's acquisition of Vodafone's indirect 45 pct interest in Verizon Wireless.Verizon expects to close the transaction and issue the shares on Feb. 21, 2014.  Full Article

Verizon Communications Inc closes sale of Euro and Sterling notes with proceeds of $5.4 bln in value
Wednesday, 12 Feb 2014 09:15am EST 

Verizon Communications Inc:Closes on the sale of three series of its capital markets notes 1,750,000,000 euros 2.375 pct Notes due 2022, 1,250,000,000 euros 3.25 pct notes due 2026 and 850,000,000 Pound 4.75 pct notes due 2034 with a value totaling about $5.4 bln.Says corporate notes offering in euro and sterling.Says net proceeds will be used primarily to finance, in part, Verizon's acquisition of Vodafone Group Plc's 45 pct indirect ownership interest in Verizon Wireless.Says net proceeds used to finance this acquisition will reduce anticipated borrowings under a term loan agreement, dated Oct. 1, 2013, which provides Verizon with the ability to borrow up to $12.0 bln.Says to the extent that the net proceeds from this offering are not used to finance the acquisition, which is expected to close on Feb. 21, they will be used for general corporate purposes.  Full Article

Verizon Communications Inc to list $500 mln in retail notes on NYSE
Thursday, 6 Feb 2014 11:42am EST 

Verizon Communications Inc:Says has closed its sale of $500 mln of retail notes to a large number of investors in a transaction involving 21 underwriting firms.Says it sold the retail notes in $25 increments and expects to list the notes on the New York Stock Exchange within the next 30 days.Says the retail notes will mature on Feb. 15, 2054, and are subject to a call option five years after their issuance.Says it will pay quarterly interest on the notes at a rate of 5.9 pct per year.  Full Article

Cablevision sues Verizon over commercial targeting FiOS

NEW YORK - Cablevision Systems Corp sued Verizon Communications Inc on Tuesday, seeking a judge's finding that its television commercial claiming Verizon's FiOS service does not solely use fiber optic cable is truthful.

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