Davis Polk is advising J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC as financial advisers to Verizon Communications Inc. in connection with its $130 billion acquisition of a 45% interest in Verizon Wireless from Vodafone Group Plc. The transaction, which is expected to close in the first quarter of 2014, is subject to customary closing conditions, including regulatory approvals and the approval of both companies’ shareholders.
Verizon, headquartered in New York, is a global leader in delivering broadband and other wireless and wire-line communications services to consumer, business, government and wholesale customers. Vodafone is one of the world’s largest mobile communications companies by revenue with equity interests in 30 countries across five continents and around 50 partner networks worldwide. Verizon Wireless is a joint venture between Verizon, which owns 55% of the partnership, and Vodafone, which owns 45% of the partnership.
The Davis Polk team includes partners Phillip R. Mills, Simon Witty and Will Pearce and associate Brian L. Friedman. Partner Jonathan Cooklin and associate David Wilson are providing tax advice. Members of the Davis Polk team are based in the New York and London offices.
