Vodafone gets go-ahead for its Verizon sale

 
Oliver Smith
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VODAFONE’S shareholders yesterday approved the telecom giant’s £51bn payout to investors as well as the sale of its £84bn stake in Verizon Wireless.

At the general meeting 99.7 per cent of shareholders voted to approve both transactions which represents the return of 71 per cent of the proceeds of the Verizon Wireless sale to shareholders.

The deal, agreed in September and the third largest in history, had been expected to be approved.

The sale is expected to close on 21 February, with the share consolidation and return of value to shareholders taking place three days later.

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