Vodafone, Verizon Agree on $130 Billion Deal

Negotiators for Verizon Communications Inc. and Vodafone Group PLC have agreed to a deal in which Verizon will pay about $130 billion for the U.K. company’s stake in their U.S. joint venture, a person familiar with the matter said.

The terms still needed to be approved by the companies’ boards, but if all goes well a deal could be announced as soon as Monday afternoon, the person said. Vodafone’s board was meeting Sunday to discuss the deal, and Verizon’s board was to meet after hearing the result, people familiar with the matter said.

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