Vodafone outlines timetable for VZW sale

11 DEC 2013

Vodafone Group outlined the timetable for completing its disposal of its 45 per cent stake in Verizon Wireless with the transactions and “return of value” expected to be completed “on or around 21 February 2014”.

Payment of cash entitlements under the return of value is slated for 4 March.

Further timetable details were given in a shareholder circular which Vodafone said will be posted shortly.

The circular contains notices convening a Court Meeting and a General Meeting, both held on 28 January “to consider and if thought fit, approve the transactions, the return of value, the share consolidation and related matters”.

Approval from Verizon shareholders is also required. They have a special meeting on 28 January as well.

Vodafone Group, in September, confirmed its anticipated deal to sell its 45 per cent stake in Verizon Wireless to partner Verizon Communications, in a $130 billion (£84 billion) cash and stock deal.

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Ken Wieland

Ken has been part of the MWC Mobile World Daily editorial team for the last three years, and is now contributing regularly to Mobile World Live. He has been a telecoms journalist for over 15 years, which includes eight...More

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