Reuters: Verizon's $130 billion bid for Vodafone stake to be voted on this weekend (update: it's a done deal)

Vodafone and Verizon might finally be "resolving" their business relationship, according to Reuters: the pair are said to be striking a deal this weekend. The typical folks "familiar with the matter," say that the firms' respective boards are voting on a $130 billion buyout that would put Vodafone's 45 percent stake in the network back in Verizon's hands. The price has gone up since we last heard about this deal, though the plan is essentially the same -- Verizon will finance half of the purchase through bonds and bank loans while covering the rest with cash on hand. Neither Verizon or Vodafone were willing to comment on the report, Reuters stated, but it's no secret that the two companies have mused over breaking their partnership in the past. We'll let you know if we hear anything official; until then, check out the source link to get the story from the horse's mouth.

Update: The Wall Street Journal is reporting that the deal has been finalized behind closed doors, reiterating that an official announcement could come as early as Monday.

2nd update: The deal is done, Verizon now owns itself, and the world can return to normal. The press release is below.
Filed under: Cellphones, Mobile, Verizon
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Source: Reuters, WSJ



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