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Mobile services

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 Verizon’s earnings per share by approximately 10%, excluding any non-operational adjustments. (See Verizon Eyes Independent, Converged Future.)

UK-based Vodafone will now see its value halved without its US subsidiary. (See Vodafone Reports Fiscal Q3, Vodafone Ups 'Project Spring' Capex to $11B+, and Vodafone: Eat or Be Eaten?)

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

Liz Greenberg 2/21/2014 | 9:38:43 PM
Re: What's next? My guess is that they will not only be friendly but happy.  It leaves each of them to focus on their own markets and the freedom to do what is right independent of the other. 
RitchBlasi 2/21/2014 | 1:50:38 PM
Re: What's next? Yeah, the cuffs are off!  It will be interesting to see how the wired and wireless parts of the business work together.  I hope they make the wireless guys take the lead. 
Carol Wilson 2/21/2014 | 11:06:41 AM
Re: What's next? Were Verizon and Verifone folks every friendly?

I'm expecting to see a lot more integration of Verizon Terremark's cloud services with mobile endpoints, aimed at the business community. 
Sarah Thomas 2/21/2014 | 10:24:33 AM
What's next? So, what's next for Verizon? And, perhaps of more concern, what's next for Vodafone? I wonder if the two will be friendly at next week's show!
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