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Sep 3, 2013

Insight: Verizon, Vodafone CEOs talked in gym, agreed on price at breakfast

By Sinead Carew and Soyoung Kim

(Reuters) – In the end, all it took was a workout session in the gym followed by conversation over breakfast at San Francisco’s Four Seasons hotel for Verizon Communications Inc’s Lowell McAdam and Vodafone Group Plc’s Vittorio Colao to bridge a $30 billion, 10-year-long gap between their companies and strike the third-biggest corporate deal ever.

The two CEOs, who have known each other for 20 years and are close enough to have had dinner at each other’s homes, had been in regular touch at least since the fall of last year about the fate of their Verizon Wireless joint venture, which was formed in 2000 and is now the No. 1 U.S. mobile carrier.

Sep 2, 2013

Verizon, Vodafone agree to $130 bln Wireless deal

LONDON/SAN DIEGO, Sept 2 (Reuters) – Verizon Communications
agreed on Monday to pay $130 billion to buy Vodafone
Group out of its U.S. wireless business, signing
history’s third largest corporate deal announcement to bring an
end to an often tense 14-year marriage.

The deal in cash and stock will give Verizon full access to
the profits from the United States’ largest mobile operator,
handing it fresh firepower to invest in its mobile network and
fend off challengers in a tough market that is fast becoming
even more competitive.

Sep 2, 2013

Verizon, Vodafone CEOs talked in gym, agreed on price at breakfast

Sept 2 (Reuters) – In the end, all it took was a workout
session in the gym followed by conversation over breakfast at
San Francisco’s Four Seasons hotel for Verizon Communications
Inc’s Lowell McAdam and Vodafone Group Plc’s
Vittorio Colao to bridge a $30 billion, 10-year-long gap between
their companies and strike the third-biggest corporate deal
ever.

The two CEOs, who have known each other for 20 years and are
close enough to have had dinner at each other’s homes, had been
in regular touch at least since the fall of last year about the
fate of their Verizon Wireless joint venture, which was formed
in 2000 and is now the No. 1 U.S. mobile carrier.

Sep 2, 2013

Verizon and Vodafone agree $130 billion Wireless deal

LONDON/SAN DIEGO (Reuters) – Verizon Communications agreed on Monday to pay $130 billion to buy Vodafone out of its U.S. wireless business, signing history’s third largest corporate deal to bring an end to an often fractious 14-year marriage.

The two firms said Vodafone would get $58.9 billion in cash, $60.2 billion in Verizon stock, and an additional $11 billion from smaller transactions in a deal that is due to close in the first quarter of next year.

Aug 30, 2013

Why Wall St doesn’t blink at extra $30 billion for Verizon Wireless

NEW YORK (Reuters) – It’s not often that Wall Street shrugs off what amounts to a 30 percent price hike for an asset inside of four months.

But that is what happened to Verizon Communications Inc (VZ.N: Quote, Profile, Research) when news broke that it is in talks to buy out Vodafone Group Plc’s (VOD.L: Quote, Profile, Research) 45 percent stake in their U.S. wireless venture for up to $130 billion, up from the $100 billion price range that it was considering back in April.

Aug 30, 2013

Verizon in talks to buy out Vodafone stake – sources

LONDON/NEW YORK (Reuters) – Verizon Communications is close to buying the remaining stake in Verizon Wireless from Vodafone Group PLC it does not own for potentially $130 billion, according to people familiar with the talks, in what could be the third-biggest deal of all time.

Verizon, the number one U.S. mobile carrier, has made no secret of its desire to gain full ownership of a network that is growing fast and generating billions of dollars in free cash flow, hoping to reap the monetary benefits.

Aug 29, 2013

Analysis: Why Wall Street doesn’t blink at extra $30 billion for Verizon Wireless

NEW YORK (Reuters) – It’s not often that Wall Street shrugs off what amounts to a 30 percent price hike for an asset inside of four months.

But that is what happened to Verizon Communications Inc (VZ.N: Quote, Profile, Research, Stock Buzz) when news broke that it is in talks to buy out Vodafone Group Plc’s (VOD.L: Quote, Profile, Research, Stock Buzz) 45 percent stake in their U.S. wireless venture for up to $130 billion, up from the $100 billion price range that it was considering back in April.

Aug 29, 2013

Why Wall St doesn’t blink at extra $30 bln for Verizon Wireless

NEW YORK, Aug 29 (Reuters) – It’s not often that Wall Street
shrugs off what amounts to a 30 percent price hike for an asset
inside of four months.

But that is what happened to Verizon Communications Inc
when news broke that it is in talks to buy out Vodafone
Group Plc’s 45 percent stake in their U.S. wireless
venture for up to $130 billion, up from the $100 billion price
range that it was considering back in April.

Aug 29, 2013

Vodafone in talks to sell Verizon Wireless stake to Verizon

LONDON/NEW YORK, Aug 29 (Reuters) – Vodafone Group PLC
said on Thursday that it was in talks with Verizon
Communications Inc to sell its prized stake in Verizon
Wireless, the number one U.S. mobile carrier, in what would be
the third-biggest deal of all time.

Verizon has made no secret of its desire to gain full
ownership of a network that is growing at a rapid rate and
generating billions of dollars in free cash flow, but the
companies have tussled over how such a deal should be valued.

Aug 23, 2013

Microsoft CEO Ballmer to retire within 12 months

SEATTLE/NEW YORK (Reuters) – Microsoft Corp Chief Executive Steve Ballmer unexpectedly announced his retirement on Friday, ending a controversial 13-year reign at the head of the world’s largest software company and sending the company’s shares up nearly 6 percent.

Ballmer, 57, took over from co-founder Bill Gates in January 2000, but his leadership was questioned throughout his tenure by Wall Street and Silicon Valley, as Microsoft’s stock price floundered and the company that drove the personal computer revolution was overtaken by Apple Inc and Google Inc in the shift toward mobile computing.

    • About Sinead

      "Sinead is a telecommunications industry correspondent. Her coverage area spans U.S. service providers, cellphone makers and chip makers. Before joining Reuters in 2002, she covered technology and telecoms for various trade publications."
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