Vodafone to sell their share of Verizon Wireless

Vodafone UK has owned a big chunk (45 percent) of American carrier Verizon Wireless since 1999, but that is now about to change.

Verizon has confirmed the rumour that they will be buying all of the Vodafone stake in the wireless division of the company. The cost? A cool $130 (£84) billion, paid in cash and stock. It should close by Q1 2014.

The deal was unanimously approved by the board of both companies, but still has to be approved by the government and company shareholders.

Wonder what Vodafone will do with this new wealth ?

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