Verizon Communications Inc. (VZ) completes Verizon Wireless deal with Vodafone

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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. 

[Source: Reuters.com]

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