Vodafone's $130bn Windfall After Verizon Deal

Vodafone has said it is selling its stake in the biggest US mobile phone company - the third largest corporate deal in history.

Verizon Communications has agreed to buy the British firm's 45% stake in Verizon Wireless for $130bn (£84bn), in a deal which could boost the UK economy.

Verizon Wireless was the FTSE 100 film's joint US venture with Verizon Communications, which is most profitable mobile service provider in the US.

And the new agreement is the culmination of Verizon's decade-long attempt to win full control of it.

Under the terms of the deal, Vodafone would get $58.9bn in cash, $60.2bn in Verizon stock, and an additional $11bn from smaller transactions that would take the total deal value to $130bn, Verizon said.

The deal marks the British telecom giant's exit from the large but mature US mobile market.

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