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Verizon, Vodafone Agree to $130 Billion Deal, WSJ Reports

Verizon Communications Inc. agreed to acquire Vodafone Plc.’s 45 percent stake in Verizon Wireless in a $130 billion transaction to gain full control of the most profitable U.S. mobile-phone carrier, the Wall Street Journal reported, citing a person familiar.

Terms still need approval from the boards of both companies, WSJ said, citing the person.