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Verizon Sued By Shareholder Over $130 Billion Vodafone Wireless Deal

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Verizon Sued By Shareholder Over $130 Billion Vodafone Wireless Deal

Verizon Sued By Shareholder Over $130 Billion Vodafone Wireless Deal
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Verizon Sued By Shareholder Over $130 Billion Vodafone Wireless Deal

Wochit 0:34 mins

Verizon Communications Inc has been sued by a shareholder seeking to void its $130 billion buyout of Vodafone Group Plc's stake in the companies' wireless joint venture on the grounds the price is too high. In a lawsuit filed in a New York state court just three days after the transaction was announced, Natalie Gordon said Verizon shareholders are being "shortchanged" by the purchase of Vodafone's 45 percent stake in Verizon Wireless, the largest U.S. mobile phone operator.

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