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Verizon picks up full control of Verizon Wireless for $130B (Source:

Verizon picks up full control of Verizon Wireless for $130B

Following years of speculations, Verizon Communications has finally gained full control of its wireless division, announcing a deal to purchase Vodafone’s 45% stake in Verizon Wireless for $130 billion.

The deal, which was announced today, will consist mostly of cash and shares in Verizon, with Verizon forking over $58.9 billion in cash and $60.2 billion in stock. In addition, Verizon will issue $5 billion in notes payable to Vodafone; sell its 23% interest in Vodafone Italy for $3.5 billion, thereby providing Vodafone with full ownership of Vodafone Italy; with the remaining $2.5 billion of the transaction value a combination of “other considerations.”

To fund the deal Verizon said it has “entered into a fully executed $61 billion bridge credit agreement” with J.P. Morgan Chase Bank, Morgan Stanley Senior Funding, Bank of America and Barclays. The deal is expected to close before the end of the year.

The move puts Verizon on more equal footing with domestic rival AT&T, which has full control over AT&T Mobility. While AT&T Mobility has recently not been able to match Verizon Wireless’ financial strength, AT&T is able to glean the full financial benefits from its wireless operations. Verizon Wireless posted $6.4 billion in operating income for the first quarter of this year while AT&T Mobility reported $4.6 billion in net income for the first quarter. Verizon Wireless generated more than $75 billion in revenues in 2012, compared with just over $70 billion in 2011. The carrier also posted nearly $22 billion in operating income in 2012, compared with just over $18 billion in 2011.

“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 [United States],” noted Lowell McAdam, Verizon CEO and chairman in a statement. “The capabilities to wirelessly stream video and broadband in LTE complement our other assets in fiber, global IP and cloud. These assets position us for the rapidly increasing customer demand for video, machine-to-machine and big data. We are confident of further growth in wireless, and our business in its entirety.”

Vodafone, which gained its stake in Verizon Wireless through the formation of the wireless operator in 2000 following the merger that combined wireless operations from Bell Atlantic, PrimeCo Personal Communications and Vodafone AirTouch, announced it would turn around all of the Verizon shares and an additional $23.9 billion for a total of $84 billion back to its shareholders. Vodafone has over the past several years begun to change its focus, purchasing more cable and wireline operations, while exiting some of its wireless businesses. Vodafone last year acquired Cable & Wireless Worldwide for $1.7 billion in a move to bolster its enterprise business in the U.K. and around the world, and more recently acquired Kabel Deutschland for $10 billion.

Vodafone has also managed to reap recent rewards of its ownership stake in Verizon Wireless through dividend payments totaling $25.5 billion.

Vodafone in 2004 nearly sold off its interest in Verizon Wireless following its attempt to acquire AT&T Wireless Services Inc. for $38 billion before being outbid by Cingular Wireless’ $41 billion offer.


Wi-Fi Max

Hi friends,

I got an idea today that why can’t we implement a Wi-Fi city / Wi-Fi Mesh Network with the help of WiMax and Wi-Fi technologies. I read that WiMax device can receive the RF signal from 3Km distance. If we are using that WiMAX device for internet connection, we can connect Wi-Fi AP to transfer the data / to connect to internet.


If we add one Wi-Fi chip in that WiMax device and if we write a program for how to transfer the data to the Wi-Fi stations / APs, it will work as Wi-Fi AP also.


It can be used in public places like hospitals, Airports, railway stations, bus stops, post office, shopping malls, and etc…


I hope it will work.