It's final: Verizon will take control of wireless unit for $130B

Verizon Communications moved to gain full control of its U.S. wireless assets after Vodafone Group agreed to sell its 45% stake in Verizon Wireless, a cash-and-stock acquisition worth $130 billion, the companies announced after Verizon's board signed off on the deal. "The opportunity really crystallized because of the capital markets. It was really a perfect storm on the financial perspective on the positive side," said Verizon CEO Lowell McAdam, who pointed to rising interest rates as a strong incentive to finally reach an agreement to end their 14-year partnership.

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