Deals
Verizon Wireless Approves $10 Billion Payment to Co-Owners
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Verizon Wireless, the largest U.S. wireless carrier, approved a $10 billion distribution to owners Verizon Communications Inc. and Vodafone Group Plc, the first payout of that kind in more than five years.
The payment will be made on Jan. 31 and distributed to the two companies in proportion to their ownership in Verizon Wireless, the company said yesterday in a statement. New York-based Verizon Communications holds 55 percent of the wireless venture, while Newbury, England-based Vodafone owns 45 percent.