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Verizon Pays $130 Billion to Buy Out Vodafone

A massive deal on Wall Street. Vodafone is set to sell its stake in Verizon Wireless.
A massive deal on Wall Street.  Vodafone is set to sell its stake in Verizon Wireless.
And it's one of the biggest deals in history.

A mega multi-billion dollar deal between two telecommunications giants.

Britain's Vodafone is selling its stake in Verizon Wireless for $130 billion and the buyer is Verizon Communications,
the parent company.

It will mark the second-biggest corporate deal in history. The historic deal needs regulatory approval, but it's expected to go through.

This will also give back Verizon its total control of Verizon Wireless.

Right now, it only has a 55-percent stake.
Upping that to 100-percent would boost Verizon's bottom line.

The company made more than $10-billion last year, but most of it went to partners like Vodafone.
That left Verizon with an annual profit of $875-million.

And the wirless business is critical.  It's the main reason Verizon is growing.

Fewer people have landlines, and Verizon stopped building out its Fios internet and TV infrastructure.

Although it's a huge deal on Wall Street, it shouldn't have a major impact on Verizon wireless customers.

(Felicia Taylor, CNN)

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