Vodafone now has investor approval to sell off its 45 percent slice of Verizon Wireless.
At the annual meeting on Tuesday, an overwhelming 99.8 percent of all Vodafone shareholders approved the proposal. The deal means that Verizon Communications will own all of Verizon Wireless and that Vodafone investors will reap the financial rewards.
The transaction will reward Vodafone with $58.9 billion in cash and $60.2 billion in Verizon shares with $84 billion of the total going to Vodafone investors. That will mark the largest single return in corporate history, The Wall Street Journal reported.
The sale is … Read more