Verizon buys itself from Vodafone for $130 billion

America's largest mobile phone carrier Verizon Communications announced yesterday that is was buying out British firm's Vodafone 45% stake in the company for US$130 billion. The deal will give Verizon 100% ownership in the company. Until the buyout yesterday, Vodafone had owned its 45% stake for over a decade.

While complete ownership of the company will give Verizon more leeway to do what it wants, Vodafone's ownership didn't have a lot to say about the direction of the carrier since it had owned less than half the company. Verizon says it will focus on rolling out 4G to more areas of the country. As for Vodafone, now that they are cash rich, the company plans to spend at least £6 billion speeding up 4G roll out in the UK and also improve fiber optic broadband speeds to homes.

via TUAW - The Unofficial Apple Weblog

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