Vodafone Holders Sign Off on $130 Billion Verizon Sale

Vodafone investors approved the company’s $130 billion sale of its holding in Verizon Wireless, which is set to give them 1.04 pounds ($1.72) per share. That figure is based on buyer Verizon’s share price remaining at about $47.64, Vodafone said. The payout, which will be about $84 billion in shares and cash, will be finalized next month. About $60 billion of the distribution will be in Verizon Communications shares. Shareholders approved the deal in meetings with the Vodafone board. The transaction will also involve a two-for-one share consolidation to keep the company’s shares at levels similar to their pre-payout price.