Verizon gets FCC approval to buy Vodafone’s stake; VZW now owns 100 percent of itself

Verizon quietly launches 500MB Share Everything plan for $40 per month

The financial markets gasped in disbelief when it first heard that Verizon Wireless was in fact buying the remaining half of its company from U.K. telecom-giant Vodafone. The two companies agreed on an astonishing sum of $130 billion. The buy is closing relatively soon as regulators expect completion of the deal sometime in the first quarter of 2014. This will give Verizon 100 percent ownership of Verizon Wireless.

Big Red claims the deal will allow them to “strengthen” their “outstanding consumer experience,” which includes many of the things people love such as network quality, products, etc.

Verizon’s Randal Milch, who is an executive vice president – public policy and general counsel of the company, spread words filled with glee in the FCC’s decision.

We thank the FCC for its quick action in approving our transaction with Vodafone, which will provide Verizon with 100 percent ownership of Verizon Wireless and a boost to one of the most important sectors of the U.S. economy. This application approval also marks the first use of the streamlined foreign-ownership review procedures that the FCC adopted earlier this year, and we are grateful to the commission for its commitment to process reforms that benefit wireless carriers and the customers we serve.

In the end, this deal doesn’t really do anything for Verizon customers, so don’t expect anything special from Big Red. But subscribers can expect to see a slight change in their wireless bill in the near future; when exactly? We don’t know.

DroidLife; via Verizon

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