For a sum of $130 billion, Vodafone agreed to sell its 45 per cent stake in US mobile operator Verizon Wireless to Verizon Communications, bringing an end to one of the longest running corporate standoffs with the world's third-largest deal.
As per the agreement announced on September 2, which will leave Verizon with 100 per cent of the largest mobile operator in the U.S., Vodafone will receive $58.9 billion in cash, $60.2 billion in Verizon stock and an additional $11 billion from smaller transactions. At completion in the first quarter of 2014, Vodafone shareholders are expected to receive all the Verizon shares and $23.9 billion of cash, which comes to $84 billion flowing back to shareholders.