Friday, November 28, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Syrian Electronic Army targets CNBC, Telegraph, Independent, PCWorld
GoPro Camera Drones In The Works: report
European Parliament Votes To Break Up Google
LG Electronics Streamlines Structure, Names New Presidents of Home and Mobile Segments
Microsoft Accidentally Anounced Acquisition Of Acompli
Microsoft Offers Massive Music Deals For The Holidays
ETRI Develops 10Gbps Internet Speeds Technology
New Asus Strix 7.1 Surround Gaming Headset Released
Active Discussions
Hi All!
cdrw trouble
CDR for car Sat Nav
DVD/DL for Optiarc 7191S at 8X
Copied dvd's say blank in computer only
Made video, won't play back easily
New Features In Firefox 33
updated tests for dvd and cd burners
 Home > News > Mobiles > Verizon...
Last 7 Days News : SU MO TU WE TH FR SA All News

Monday, September 02, 2013
Verizon To Acquire Vodafone's 45 Percent Interest In Verizon Wireless For $130 Billion


As it was expected, Verizon has entered into a definitive agreement with Vodafone Group Plc to acquire Vodafone's U.S. group with the principal asset of 45 percent of Verizon Wireless for $130 billion, consisting primarily of cash and stock.

Verizon expects the transaction at close to be immediately accretive to the company's EPS (earnings per share) by approximately 10 percent, without any one-time adjustments.

The transaction was unanimously approved by the boards of directors of Verizon and Vodafone, and is subject to customary closing conditions, including regulatory approvals and the approval of both companies' shareholders. The transaction is expected to close in the first quarter of 2014.

The transaction would provide Verizon with 100 percent ownership of the wireless carrier in the United States.

Lowell McAdam, Verizon chairman and CEO, said: "Over the past 13 years, Verizon Wireless has been a key driver of our business strategy, and through our partnership with Vodafone, we have made Verizon Wireless into the premier wireless provider in the U.S. The capabilities to wirelessly stream video and broadband in 4G LTE complement our other assets in fiber, global IP and cloud. These assets position us for the rapidly increasing customer demand for video, machine to machine and big data. We are confident of further growth in wireless, and our business in its entirety."

McAdam continued: "This transaction will enhance value across platforms and allow Verizon to operate more efficiently, so we can continue to focus on producing more seamless and integrated products and solutions for our customers. We believe full ownership will provide increased opportunities in the enterprise and consumer wireline markets."

McAdam concluded: "Verizon Wireless is the greatest wireless company in the world, and a big part of this success was due to the hard work of both partners, Vodafone and Verizon. The timing was right to execute a transaction that benefits both companies and their shareholders. Today's announcement is a major milestone for Verizon, and we look forward to having full ownership of the industry leader in network performance, profitability and cash flow."

Vittorio Colao, Vodafone Group CEO, said: "This transaction allows both Vodafone and Verizon to execute on their long-term strategic objectives. Our two companies have had a long and successful partnership and have grown Verizon Wireless into a market leader with great momentum. We wish Lowell and the Verizon team continuing success over the years ahead."

Verizon also announced today that its Board of Directors has declared a quarterly dividend of 53 cents per outstanding share, an increase of 1.5 cents per share, or 2.9 percent, from the previous quarter. On an annual basis, this increases Verizon's dividend 6 cents per share, from $2.06 to $2.12 per share.

The transaction consideration of $130 billion consists of a combination of cash, Verizon common stock and other items.


Previous
Next
Microsoft Buys Nokia's Handset Business, Patents        All News        Intel Previews SSD Overclocking Technology
Microsoft Buys Nokia's Handset Business, Patents     Mobiles News      HTC Executives Arrested Over Leaked Trade Secrets

Get RSS feed Easy Print E-Mail this Message

Related News
Verizon To Shut Down Redbox Instant Service
Verizon Sprint And T-Mobile Announce new iPhone Plans
Verizon May Launch New App Store
Verizon to Throttle "Unlimited" Data Users
Verizon Launches Rewards Program
Verizon Reports U.S. Government Requests
Verizon Wireless to buy Dish Network's Spectrum - report
Vodafone and Huawei Achieve First GSM-LTE Spectrum Trials
Vodafone To Buy Cobra Automotive Technologies
Vodafone Says Its Network Is Tapped
Verizon Threatens Netflix With Legal Action Over Slow Video Delivery Messages
Vodafone to acquire Spanish Cable Firm Ono For $10bn

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .