Vodafone shareholders have recently approved the proposal to sell their 45% share of Verizon Wireless!
On a meeting on Tuesday, 99.8% of Vodafone shareholders approved the proposal, meaning that Verizon Communications owns the whole of Verizon Wireless. Some of the money given to Vodafone for this sale will be taken by Vodafone’s investors.
This will give Vodafone with $58.9 billion in cash and $60.2 billion in Verizon shares with $84 billion of the total going to Vodafone investors, the largest single return corporate history, the Wall Street Journal said.
The sale is expected to be completed on 21 February, with Vodafone investors will receive their shares on February 24 and cash on March 4.