Verizon to Buy Out Vodafone's Stake in its Wireless Business

Verizon Communications buying out Vodafone's stake in its wireless businessVerizon is ready to drop US$130 billion to buy out Vodafone's 45 percent stake in Verizon Wireless, giving Verizon Communications complete ownership of its cellphone business. The deal will be good news for investors, but will likely have little impact on the services for end users.

Verizon CEO Lowell McAdam stated, "Over the past 13 years, Verizon Wireless has been a key driver of our business strategy, and through our partnership with Vodafone, we have made Verizon Wireless into the premier wireless provider in the U.S."

For end users, there won't be any change in how Verizon operates, although the company said it will be more efficient now. Instead, the real change will show up in the company's stock value since Verizon Communications will completely own Verizon Wireless.

The deal must still go through the usual regulatory approval process before it is completed.