Vodafone details share proceeds from Verizon deal

London - Vodafone said on Wednesday shareholders would receive 0.026 shares in Verizon Communications for each Vodafone share they own as part of their payout for the $130 billion sale of the group's stake in Verizon Wireless.

The British company also said its shares would be consolidated on February 24 at the ratio of 6 new shares for 11 existing shares following the closure of the deal on Friday.

Vodafone simplifies its management structure. Picture: Reuters. Credit: REUTERS

As an illustrative example, based on share prices and exchange rates at the close of business on February 18, a Vodafone investor would receive proceeds of 72 pence in Verizon shares and 30 pence in cash for each share owned, the group said. - Reuters