Verizon Wireless Will Pay $8.5B to Verizon, Vodafone by Year End

Verizon Wireless today announced that its Board of Representatives has declared distributions aggregating $8.5 billion to its owners, which are payable on or prior to December 31, 2012. The distributions will be paid in one or more tranches, with each tranche paid in proportion to the owners' partnership interests on the payment date. Verizon Wireless is a joint venture between Verizon Communications Inc., which owns 55 percent of the partnership, and Vodafone Group Plc, which owns 45 percent of the partnership.