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Verizon Case Study

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Verizon Case Study
Assignment 2: Mergers and Acquisitions
Verizon Communications

Pritesh Bhatt
Contemporary Business 508
Professor: Dr. Mohammed
5/25/2014

Verizon

Verizon Wireless and Vodafone Vodafone Is a British telecommunications company headquartered in London. It is the world’s second largest mobile communications company with a total of 420 million wireless subscribers as of January 2014. Vodafone owns and operates networks in 21 countries and has partner networks in over 40 countries. Verizon Wireless, formerly known as Cellco Partnership, is now branded as Verizon. Originally founded in 2000 as a joint venture of Verizon and Vodafone, Verizon Wireless reported $81 billion in operating revenues in 2013. Today Verizon provides wireless services to 122 million subscribers as of Q1 2014. On 2/21/2014 Verizon completed its acquisition of Vodafone’s 45% indirect interest in Verizon Wireless for $130 billion. “This is a great day for Verizon,” said Lowell McAdam, Verizon chairman and CEO. “The new Verizon now has full ownership of the U.S. wireless industry leader in network performance, profitability and cash flow. Acquiring Vodafone’s stake in Verizon Wireless will …show more content…
and GTE crop. The mergers that formed Verizon were among the largest in U.S. history, with a total of $58 billion in combined revenues. On Sep. 21, 1999, Bell Atlantic and London-based Vodafone AirTouch announced a new wireless business with one national footprint under a single brand and common digital technology. The new Verizon brand was launched on April 3, 2000, with the new wireless joint venture effective April 4 under the name Verizon Wireless, with Vodafone controlling 45% and Verizon Communications as the majority 55% owner, with full management control as the nations largest wireless
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