Verizon/Vodafone $130B deal announced, Moody's cuts Verizon's rating

|About: Verizon Communications (VZ)|By:, SA News Editor

Verizon Communications' (VZ) $130B purchase of Vodafone's (VOD) stake in Verizon Wireless is official.

VOD will get $58.9B in cash, $60.2B in VZ stock (which will go to VOD shareholders), and $11B from other transactions.

The deal will be immediately accretive to the tune of 10% for VZ. (PR)

VOD will return $23.9B of the cash to shareholders and the company says it will "increase the total FY14 dividend per share by 8%." (PR)

Moody's cut Verizon's long-term debt rating by one notch to Baa1 following the announcement.