Verizon Communications agreed Monday to buy out Vodafone’s 45 percent stake in its giant wireless unit in a $130 billion transaction, realigning the global telecommunications landscape in one of the biggest deals on record.
The deal represents the end of a 14-year joint venture between the British and American companies and is the culmination of years of speculation that Vodafone would sell its stake in Verizon Wireless, the largest cellphone operator in the United States.
Vodafone Group shareholders will receive 71 percent, or $84 billion, of the windfall profits in both cash and shares. That includes $60 billion of Verizon shares, which many Vodafone investors will probably look to offload, and a further $24 billion in cash.
The payout to investors was larger than many analysts had been expecting.