Verizon Finally Ends Vodafone Partnership for 130 Billion

The big news over the weekend was Microsoft buying Nokia and then Ballmer announcing Elop on the short list to take over the joint when Ballmer retires. But that wasn’t the only news or massive amounts of money being thrown around, as Verizon finally announced a deal to end the partnership with Vodafone and their 45% stake in Big Red. Getting Big Red back wasn’t cheap either as Verizon laid down 130 Billion dollars to toss Vodafone to the curb. Contents of the deal were 60 billion in cash (no checks please), 60 billion in stock, and 10 billion in penny rolls. Actually it was something coined as smaller transactions which could of course include penny rolls and with the hatred between the two giants it seems entirely possible too. According to BGR, Verizon tried for six years to withhold dividends from Vodafone in an effort to convince them to go away. It seems Verizon is paying handsomely now to get rid of them.