Verizon and Vodafone have Agreed a Deal at $130 Billion

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U.S. company Verizon Communication and Vodafone UK have agreed a deal for $130 Billion in accordance with it, Vodafone will sell Verizon Communication 45% stakes 13 years ago created by them, a joint venture Verizon Wireless. While both telecom giants refrained from official comment.

Information came out through resources that Vodafone intends to sell Verizon Communication Stakes in the Joint Venture Emerged in April of this Year. According to Media Reports, the British Telecommunications operator concerned to withdraw from the North American Market. Upon receiving the funds The British company is going to Fund the expansion of operations in Europe.

Verizon Communication is the second largest mobile operator in the United States. Company’s Last Year net income was $2.25 billion

Source: The Wall Street Journal | Photo: EPA