The big mobile-phone reset
This week’s two telecoms deals will be followed by others, as the industry undergoes a big rationalisation
ONE was a long-expected divorce, the other a much-predicted wedding. On September 2nd America’s Verizon Communications bought Britain’s Vodafone out of Verizon Wireless, the biggest mobile operator in the United States. It will pay a staggering $130 billion in cash, shares and bonds for Vodafone’s 45% stake. The next day Microsoft bought Nokia’s mobile-phone business for €3.8 billion ($5 billion). The American software company will also pay the Finnish firm €1.7 billion to license its patents, and lend it €1.5 billion.
This article appeared in the Business section of the print edition under the headline “The big mobile-phone reset”
From the September 7th 2013 edition
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