Vodafone Details Share Proceeds From Verizon Deal

Vodafone (VOD.
L) said on Wednesday shareholders would receive 0.
026 shares in Verizon Communications (VZ.
N) for each Vodafone share they own as part of their payout for the $130 billion sale of the group's stake in Verizon Wireless.

The British company also said its shares would be consolidated on February 24 at the ratio of 6 new shares for 11 existing shares following the closure of the deal on Friday.

As an illustrative example, based on share prices and exchange rates at the close of business on February 18, a Vodafone investor would receive proceeds of 72 pence in Verizon shares and 30 pence in cash for each share owned, the group said.

REUTERS