Vodafone share bought by Verizon the deal is being finished

As you may know Vodafone holds 45% stake in Verizon Wireless and Verizon has been trying to buy the share out and own it. For the last few day there were some rumors claiming that the two companies are actually making effort to finish the deal and there were a lot of assumptions around what the conditions will be in this deal.

However, from yesterday we know that there would be a vote on the decision and now The Wall Street Journal has now reported that the deal has been agreed upon by negotiators not only from one of the sides but from both sides.

For now there is not much more information around the issue and we are following closely every new piece of information that appears on the matter. We can tell you, though, that the actual votes have not appeared yet but they are not expected to be something more than a formality at this point of the negotiations

For now it seems that rather than accepting something that is between the highest and the lowest bids on the table Verizon has agreed upon paying the full price that was demanded by Vodafone which is odd but may have its sense in on itself. It seems quite certain for now that Verizon will pay the full $130 billion to buy the shares of Vodafone.

As you might also know the talks were slower because initially Verizon was trying to bring the price down to something more bearable like $100 billion but as it turns out such offer was not accepted by the giant carrier.

The official announcement of the completion of the deal should be announced tomorrow because the decision should be agreed upon by the boards of each company and then it will be completed for good.

Source: WSJ