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Verizon Wireless is paying Vodafone $4.5 billion


Posted: 01 Aug 2011
Verizon Wireless is paying Vodafone $4.5 billion

Many of you might not know this, but Verizon is not one, but actually two separate companies.

The fist one is Cellco Partnership, more known as the Verizon Wireless, and as you can hear from the name, it’s responsible for the smartphones, dumbphones, and portable hot spots that use their network.  And the second one is Verizon – which leads the wired broadband space in US by investing in fiber to the home. It’s also a co owner of the Verizon Wireless, having 55%, the other 45% belong to Vodafone. As we got to know, Verizon Wireless hasn’t pay a dividend during the last 6 years. The fact, that got Vodafone little upset.

Now when Verizon Wireless is almost debt free, it decided to pay $4.5 billion to Vodafone, and $5.5 billion to Verizon in form of a dividend.

And what could it mean? Well, at first Vodafone could pay off their bills, that were been racking up, because many European countries are just beginning their spectrum auctions. It also might mean that soon we’ll have a chance to experience a better coverage or even a faster network.

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