Verizon Shareholders Give Vodafone-VzW Deal the Green Light
Copyright 2014 by Virgo Publishing.
By: Kimberly Koerth
Posted on: 01/29/2014



 

**Editor's Note: Please click here for a recap of the biggest communications mergers in Q4 2013.**

A majority of Verizon Communications shareholders have approved the purchase of the 45 percent of Verizon Wireless the company doesn't already own from Vodafone.

Vodafone gets 1.28 billion shares of Verizon stock in the $130 billion deal.

“Acquiring Vodafone’s stake in Verizon Wireless will provide Verizon with greater financial flexibility to invest in new technologies and address evolving customer demands," Verizon chairman and CEO Lowell McAdam said. "This is critical because we believe that, when it comes to wireless growth, we are just getting started."

The acquisition remains subject to regulatory approval in the U.K. and other customary closing conditions. On Dec. 4, 2013, Verizon received the OK needed from the Federal Communications Commission for the acquisition. The transaction is expected to close on or about Feb. 21, 2014.