The Traderszone Network

Published in TZ Latest News 16 May, 2014 by The TZ Newswire Staff

Berkshire bets on Verizon as $130B Vodafone deal reshapes carrier

Warren Buffett’s Berkshire Hathaway Inc. (BRK/A) disclosed a holding in Verizon Communications Inc. (VZ) in a wager that the telecommunications company will benefit after buying out its partner in the largest U.S. wireless business. Verizon posted the biggest increase in the Dow Jones Industrial Average. Berkshire held 11 million Verizon shares as of March 31, Buffett’s company said yesterday in a regulatory filing. Verizon acquired Vodafone Group Plc’s minority stake in Verizon Wireless in February, allowing it to it stop paying a dividend to its partner.