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US: Verizon makes surprise payout to Vodafone

By  |  May 14, 2013
US: Verizon makes surprise payout to Vodafone

As rumors swirl over what sources say is a $100 billion deal between Verizon Communications and Vodafone, Verizon Wireless, the joint venture of the two companies, made a surprise payout of $7 billion. Verizon will obtain 55 percent of the $7 billion, while Vodafone will be paid the remaining 45 percent. According to reports, the move is an unexpected one as Verizon was originally expected to be used to pay off debts; some believe the buyout is a move to ensure Vodafone sell its stake in Verizon Wireless, though others believe that while a deal is likely to happen, it is not on the immediate horizon. Verizon stands as the largest wireless carrier in the nation, the result of a 2000 merger between Bell Atlantic and Vodafone mobile businesses.

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