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Vodafone selling its stake to Verizon Communications for $130bn

Vodafone selling its stake to Verizon Communications

Vodafone selling its stake to Verizon Communications

Vodafone confirms that it is in advanced discussions with Verizon Communications Inc regarding the disposal of Vodafone’s US group whose principal asset is its 45% stake in Verizon Wireless for $130bn.  “A further announcement will be made as soon as practicable,” the company said in a statement. But Verizon declined to comment. Verizon Wireless is the most profitable U.S. wireless carrier.

If the deal completed, it will be one of the largest deals in corporate history.

Vodafone shares were up almost 4% in London.

Experts says, at least half of the proceeds of the deal will be returned to Vodafone shareholders. The rest of the money may be used by Vodafone to fund acquisitions in Europe.

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