Wednesday, December 4, 2013

FCC Approves Verizon-Vodafone Transfer Of Control

The FCC approved the transfer of control to Verizon Communications Inc. of Vodafone Group PLC’s
stake in Verizon Wireless.

Verizon said the $130 billion deal is now expected to close in Q1 2014.

Randal Milch, executive vice president – public policy and general counsel of Verizon, said: “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.”

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