Shareholders in Verizon Communications will vote on the US incumbent’s plan to acquire Vodafone Group’s 45% stake in Verizon Wireless on 28 January 2014.
Investors will be asked if they approve the telco’s US$130bn agreement to buy out its partner…
Shareholders in Verizon Communications will vote on the US incumbent’s plan to acquire Vodafone Group’s 45% stake in Verizon Wireless on 28 January 2014.
Investors will be asked if they approve the telco’s US$130bn agreement to buy out its partner and consolidate its wireless subsidiary.
The ballot, to be held in New Jersey, is the penultimate hurdle the deal has to cross. Vodafone shareholders still have to okay the transaction and an EGM is yet to be set, although the companies expect the deal to close in Q1 2014.
Last week the Federal Communications Commission (FCC) approved the buy without conditions.
Verizon agreed the US$130bn deal – the third largest corporate transaction ever – at the start of September. It secured US$61bn in financing, which included a record US$49bn bond offering.
Verizon buys EdgeCast
Meanwhile in a statement today, Verizon said it has agreed to acquire EdgeCast, a content delivery network which has a network of servers supporting clients such as Twitter and Hulu.
Verizon was advised by Liontree Advisors on the deal and expects it to close early next year.
The financial details of the transaction were not disclosed. TechCrunch reported a deal value of “more than US$350m” but a Verizon spokesperson declined to comment on this figure.
Verizon’s tech subsidiary Verizon Digital Media Services will consolidate EdgeCast when the transaction completes.
