Verizon buys itself from Vodafone for $130 billion
America's largest mobile phone carrier Verizon Communications announced yesterday that is was buying out British firm's Vodafone 45 percent stake in the company for US$130 billion. The deal will give Verizon 100 percent ownership in the company. Until the buyout yesterday, Vodafone had owned its 45 percent stake for over a decade.
While complete ownership of the company will give Verizon more leeway to do what it wants, Vodafone's ownership didn't have a lot to say about the direction of the carrier since it had owned less than half the company. Verizon says it will focus on rolling out 4G to more areas of the country. As for Vodafone, now that they are cash-rich, the company plans to spend at least £6 billion speeding up 4G roll out in the UK and also improve fiber optic broadband speeds to homes.
America's largest mobile phone carrier Verizon Communications announced yesterday that is was buying out British firm's Vodafone 45...
Subscribe to Newsletter
Software Updatesmore updates
- Remote Desktop update brings OS X Mavericks support and improved multi-display support
- Valve revamps Steam Mobile for iOS
- Google Drive iOS app finally lets you sort items and find and replace in documents
- Viber announces Viber Out calls for iOS, goes head to head with Skype
- Amazon Cloud Drive Photos gains video, iPad support
- Pandora Radio 5.1: Wake up to your favorite station