Verizon Communications Inc. (VZ) completes Verizon Wireless deal with Vodafone
Verizon Communications Inc. (NYSE:VZ) has completed the deal with British mobile company Vodafone over Verizon Wireless. Vodafone is selling their stake in U.S. telecommunications company Verizon Wireless. This triggered a $23.9 billion in cash return to shareholders.
Verizon Communications and Vodafone shareholders approved of the $130 billion takeover of the Verizon Wireless venture in January. This is the third biggest deal in history.
Vodafone shareholders will receive the equivalent of $0.49 for each existing ordinary share in addition to a distribution of Verizon shares.