Verizon Completes Vodafone Buyout
Updated: rewrote post to reflect that the deal officially closed.
Verizon Communications today became the sole owner of Verizon Wireless. Verizon Wireless was launched as a joint venture between Verizon Communications and Vodafone Group. Verizon owned 55% and Vodafone owned 45%. Verizon proposed last year to purchase the portion of Verizon Wireless that it didn't own from Vodafone for $130 billion. The deal was given FCC approval in December and shareholder approval in January. The deal officially closed this morning. Verizon Communications now has full control over Verizon Wireless, and Vodafone, which is based in the U.K., has been reduced in value by about half.
Verizon to Sell Landline Biz to Frontier for $10 Billion
Verizon Communications today confirmed plans to sell part of its wireline telephone and internet business to Frontier Communications for $10 billion. The deal covers Verizon's consumer and business assets in California, Florida, and Texas.
Verizon Closer to $10B Asset Sale to Pay Down Debt
Verizon Communications has lined up several deals that will earn it up to $10 billion, reports the Wall Street Journal. The company took on a massive amount of debt to buy Vodafone's portion of Verizon Wireless last year.
Verizon Picks Up XO's Fiber Network to Beef Up Backhaul
Verizon Communications today said it has agreed to acquire XO Communications' fiber business for $1.8 billion. The deal, says Verizon, will help it serve its enterprise and wholesale customers, as well as allow Verizon to further densify its cellular network.
Verizon to Buy Yahoo's Internet Business for $4.8B
Verizon Communications today said that it has agreed to buy Yahoo's core internet and search businesses for $4.83 billion. Yahoo's properties will join AOL under Verizon's ownership, to be managed by Marni Walden, EVP and President of the Product Innovation and New Businesses organization at Verizon.