Source: Roger Yu / USA Today
The largest U.S. wireless carrier is now 100% American.
In one of the most expensive acquisition deals ever, U.K.-based Vodafone said Monday that it agreed to sell its 45% stake in Verizon Wireless to Verizon Communications for $130 billion in cash and stock.
Verizon will pay $58.9 billion in cash and $60.2 billion worth of Verizon shares, as well as $5 billion in loan notes. Verizon also will pay with its 23% stake in Vodafone Italy, worth about $3.5 billion, and assume $2.5 billion of Vodafone’s debt. The deal is expected to close in the first quarter of 2014.
Once the transaction is completed, Verizon will wholly own the wireless unit, giving the company more flexibility and options to manage growth in the lucrative mobile data market.
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