Sep 02 AT 1:12 PM Dima Aryeh 12 Comments

Verizon agrees to buy back Vodafone’s 45% stake for $130 billion


Vodafone has owned a 45% stake in Verizon Wireless all this time, and Verizon has long been contemplating buying it. Though Vodafone owns that stake, it isn’t a majority stake so Verizon still has control over itself. However, that’s just not good enough.

Finally, after much discussion, the boards of the two companies unanimously voted on the sale of Vodafone’s stake to Verizon Wireless for a massive $130 billion. Verizon will be the sole owner of itself, which will be great for management. However, it is unknown how this will affect customers, if at all. Will the buyout cause a price hike, or will it simply be a background deal that will never show any obvious effects? We hope it’s the latter.

Source: Droid-Life

Dima Aryeh is a Russian obsessed with all things tech. He does photography, is an avid phone modder (who uses an AT&T Galaxy Note II), a heavy gamer (both PC and 360), and an aspiring home mechanic. He is also an avid fan of music, especially power metal.

    Most Tweeted This Week