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General

Vodafone exits US - what will it buy now?

Tuesday 3 September 2013 | 12:46 CET | Author: Corina Schultz, Tim Poulus | Market Commentary
Vodafone has agreed to allow Verizon to buy out its 45 percent stake in their joint venture Verizon Wireless, for USD 130 billion. As part of the deal, Vodafone will also gain 100 percent control of Vodafone Italia. Over 70 percent of the proceeds from the sale, including cash and shares in Verizon, will be handed to Vodafone's shareholders, and Vodafone will also increase its dividend for the current fiscal year. In addition, Vodafone announced plans to invest GBP 6 billion of the proceeds in strengthening its remaining activities.

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Categories: General
Companies: Deutsche Telekom / Verizon / Verizon Wireless / Vodafone / Vodafone Italia
Countries: United States / World
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