THE NEWS: Verizon will own its wireless business outright after agreeing to a $130 billion deal to buy the 45 percent stake of Verizon Wireless owned by British cellphone carrier Vodafone.
THE CONTEXT: The buyout, the second-largest acquisition deal on record, would give Vodafone PLC additional cash to pursue its expansion ambitions in Europe. Verizon expects it will boost its net income by 10 percent without a partner sharing the profits .
NEXT STEPS: The deal, which still needs to be approved by regulators and shareholders, is expected to close in the first quarter.
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