Verizon and Vodafone agree on $130 billion deal
Telecommunications giant Verizon is about to buy back a large piece of itself from Europe's Vodafone. Investment bankers who are brokering the deal will be especially pleased with their cut of the price tag: $130 billion. Gyanee Dewnarain, from the consulting company Gartner, says this move comes at a beneficial time for Verizon.
"They are in the best possible position to spend that money," she says. "And from a strategic persepective they do see themselves now independent and able to really drive their own strategy."
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