Welcome to the New Verizon.
Today marks a major milestone for our company. We announced today that we have reached a definitive agreement with Vodafone to acquire their 45 percent stake in Verizon Wireless. This is more than a financial transaction – it’s a transformation.
Verizon is unlike any other company. Our extraordinary assets will allow us to attack what we expect to be a $250 billion market opportunity across our platforms by 2017. Soon we will be even more efficient, agile and market responsive. There will be no organizational boundaries to developing solutions that serve our customers best, while delivering superior returns for our shareholders.
At the same time, our competitors are not standing still, so we must recognize this moment as a great opportunity to take a leap forward in our strategy and act with a sense of urgency to eliminate any barriers to our performance while continuing to deliver for our customers. Only by working together will we unlock the full potential of a New Verizon.
We expect to complete the approval process and close the transaction in the first quarter of 2014. Before that time, I have every expectation that we will continue to achieve our target performance for the rest of the year and maintain our high standards for network quality and customer service.
Your consistently high performance has undoubtedly made Verizon the company it is today. This announcement is just another example of the value you all have built, and puts extra responsibility on all of us to keep delivering the superior performance.
Thank you for your continued hard work and dedication. Let’s remain focused on our priorities and our objectives, and continue to provide our customers with outstanding service.
Please join me and Fran Shammo for a brief webcast Tuesday at 11 a.m. ET so we can further discuss this historic milestone.
Source: Verizon
Forbes: Verizon-Vodafone $130B Deal Signals Mounting Consolidation And Competition