Verizon Communications and Vodafone would finally announce a finalization to the USD130 billion exit deal on Monday, according to two sources familiar with the decision. The sources also said the deal would provide Verizon complete control of Verizon Wireless, subjecAt to final board approval.
Under the proposed agreement, Vodafone would get USD60 billion in cash, USD60 billion in Verizon stock, and an additional USD10 billion from smaller transactions that will take the total deal value to USD130 billion, two of the people familiar with the deal said on Saturday.
To fund the cash portion of the deal, Verizon had acquired as much as USD65 billion in financing from four banks, namely, JPMorgan Chase & Co, Morgan Stanley, Barclays Plc, and Bank of America Merrill Lynch. The aforementioned banks have committed to the financing, which is expected to be split evenly among the four, two people said.
"A further announcement will be made as soon as practicable," Vodafone said of the deal to exit the largest mobile operator in the U.S..
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