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Verizon, Vodafone say agree to $130 bln Verizon Wireless deal
September 2, 2013 / 4:11 PM / 4 years ago

Verizon, Vodafone say agree to $130 bln Verizon Wireless deal

Sept 2 (Reuters) - Verizon Communications Inc said on Monday it has agreed to buy out Vodafone Group Plc’s 45 percent stake in Verizon Wireless for $130 billion, capping its decade-long effort to win full control of the most profitable mobile service provider in the United States.

Under the terms of the deal, Vodafone would get $58.9 billion in cash, $60.2 billion in Verizon stock, and an additional $11 billion from smaller transactions that would take the total deal value to $130 billion, Verizon said in a statement.

The deal marks the third-largest announced acquisition in corporate history and British telecom giant Vodafone’s exit from the large but mature U.S. mobile market.

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