Daily News: September 3, 2013

JPMorgan, Others Provide Financing in Verizon Acquisition

Bloomberg reported that Verizon Communications agreed to buy Vodafone Group’s 45% stake in Verizon Wireless for $130 billion, getting full control of the most profitable U.S. mobile-phone carrier in the biggest acquisition in more than a decade.

Bloomberg said Verizon will pay Vodafone $58.9 billion in cash, financed with credit from JPMorgan, Bank of America, Barclays and Morgan Stanley. The company also will issue $60.2 billion in stock to Vodafone shareholders.

To read the full Bloomberg story click here.