Vodafone details share windfall for investors from Verizon deal

Vodafone shareholders will 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.

Vodafone said its shares would also be consolidated on February 24 at a ratio of six new shares for 11 existing shares following closure of the deal. It said that based on share prices and exchange rates at the close of business on February 18, a Vodafone investor would receive proceeds of 72p in Verizon shares and 30p in cash for each share owned. Vodafone is one of the most widely held stocks in the UK, accounting for about 6 percent of the average FTSE 100 tracker fund, which means that a large number of investors will have cash to reallocate.