Business this week

It was a big week for the mobile-phone industry, with the announcement of two long-mooted deals. In the first, and after years of talks, Verizon agreed to buy the 45% stake held by Vodafone in Verizon Wireless, the pair’s joint venture in America, for $130 billion. It is the third-biggest business transaction yet seen (behind Vodafone’s own purchase of Mannesmann and the merger of AOL and Time Warner) and will reap $5 billion for the American taxman. Vodafone’s investors will also benefit, from an $84 billion payout in cash and shares. See article