Rumors have been running rampant about Verizon wanting to give Vodafone $130 billion in cash and stock options to gain 100% control of their Verizon Wireless division, but the news is now official. Verizon has announced that the aforementioned transaction is real, it’s happening, and it’s going to mean good things for a lot of happy investors. For starters, it means those folks will enjoy a 2.9% increase in quarterly dividends, bringing the value up to 53 cents per share.
A great deal of the transaction will be made possible by a $61 billion credit agreement with J.P. Morgan Chase, one of the world’s leading financiers. Verizon says this will allow them to operate more efficiently, providing more seamless products for consumers across all their various interests.
The deal, which was agreed upon with a unanimous vote from both Verizon and Vodafone, is expected to close in the first quarter of 2014. There are still a couple of hurdles to deal with such as governmental approvals and regulatory processes, but we imagine that won’t be much of an issue.
What will this mean for Verizon Wireless consumers? Not much at all — the company will be able to move forward with more confidence than ever, and continue to provide America with the innovative products and services that have kept them at the #1 spot all this time.
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TAGS: Verizon, Verizon Wireless, Vodafone