Vodafone Shares In Verizon Wireless Sold
Today - 02nd September 2013 - Vodafone has reportedly sold their 45% shareholding in Verizon the largest Mobile Phone network in the United States.
Verizon is believed to have bought Vodafone's 45% share for £84 Billion ($US 130 Billion) - the deal is thought to be fully completed by the first quarter of 2014.
This sale is the end of a 14 year joint venture between Vodafone and Verizon Wireless.
Part of the sale proceeds are expected to go to Vodafone shareholders with possibly as much as £6 Billion being used by Vodafone with a focus to invest in the high speed 4G system, and upgrading their online and retail presence, over three years.
This will include Vodafone's fibre and broadband services.
Part of this investment is expected to be within the United Kingdom.
The sale in-depth details are perhaps beyond the scope of this article but includes cash, and stock - with Verizon Wireless handing Vodafone their (Verizon Wireless) shares in Vodafone Italy.
Although part of the deal is believed to include Vodafone holding onto approximately 30% of Verizon Wireless' parent company Verizon Communications shares.
As more details are revealed we hope to update this News Article soon - come back soon for more information.
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