Android World Update # Verizon buys out Vodafone's 45 percent interest in the company for $130 billion

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Verizon buys out Vodafone's 45 percent interest in the company for $130 billion Sep 2nd 2013, 16:49, by Jerry Hildenbrand UK company Vodafone has owned a big chunk (45 percent) of Verizon Wireless since 1999, but that is about to change Verizon has confirmed the rumor that they will be buying all of Vodafone's stake in the wireless division of their company in a $130 billion cash and stock deal that should close by Q1 2014. The deal was unanimously approved by the board of both companies, but still has to be approved by the government and company shareholders. The executives at both companies are pretty bullish on the deal, and Verizon's Lowell McAdam says: This transaction will enhance value across platforms and allow Verizon to operate more efficiently, so we can continue to focus on producing more seamless and integrated products and solutions for our customers. We believe full ownership will provide increased opportunities in the enterprise and consumer wireline markets. In addition to today's news of the Vodafone buyout, Verizon has also announced an increase in the quarterly dividend of 1.5-cents to 53-cents per share.  With $130 billion about to flow into Vodafone, and Verizon still recording a profit after announcing such an expenditure, it's obvious that the mobile industry is not about to slow down any time soon.

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