A PYMNTS Company

US: Verizon makes surprise payout to Vodafone

 |  May 14, 2013

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.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Forbes

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.