Verizon Gets Its Freedom From Vodafone
Verizon's $130 billion acquisition of Vodafone's 45% stake in the company's wireless division is now complete, the New York-based carrier announced on Friday.
Verizon Communications Inc. (NYSE: VZ) is now the sole proprietor of Verizon Wireless , paving the way for it to focus on building more converged services. The carrier said in a release that the transaction is immediately accretive to Verizons earnings per share by approximately 10%, excluding any non-operational adjustments. (See Verizon Eyes Independent, Converged Future.)
The deal took just under six months to close. Verizon announced it in September, got Federal Communications Commission (FCC) approval in December, and shareholder approval last month. (See Vodafone Agrees to $130B Verizon Stake Sale.)
— Sarah Reedy, Senior Editor, Light Reading