Verizon, Vodafone say agree to $130 billion Verizon Wireless deal

REUTERS - Verizon Communications Inc said on Monday it has agreed to buy out Vodafone Group Plc's 45 percent stake in Verizon Wireless for $130 billion, capping its decade-long effort to win full control of the most profitable mobile service provider in the United States.

Under the terms of the deal, Vodafone would get $58.9 billion in cash, $60.2 billion in Verizon stock, and an additional $11 billion from smaller transactions that would take the total deal value to $130 billion, Verizon said in a statement.

The deal marks the third-largest announced acquisition in corporate history and British telecom giant Vodafone's exit from the large but mature U.S. mobile market. (Reporting by Ilaina Jonas and Edwin Chan; Editing by Jeffrey Benkoe)