Verizon Buys Out Brit Partner for $130 Billion
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Andrew Harrer/Bloomberg via Getty Images(NEW YORK) — Verizon Communication has acquired Britain’s Vodafone Group PLC for $130 billion.
Verizon and Vodafone have actually been in partnership for 14 years but the top U.S. wireless provider decided to buyout Vodafone’s 45 percent stake in its company
The deal amounts to a $58.9 billion cash component and $60.2 billion in Verizon shares.
Verizon pulled the trigger on the deal in hopes of reviving its subscriber base, which has slowed for the entire industry because so many people now own cellphones.
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