Vodafone explains how it will dole out Verizon windfall

|About: Vodafone Group Plc (VOD)|By:, SA News Editor

Vodafone (VOD) will divide up 1.27B Verizon Communications (VZ) shares to its investors as part of the distribution it's making following the $130B sale of its 45% stake in Verizon Wireless.

Vodafone stockholders will receive 0.026 of a share in Verizon Communications for each Vodafone share they own.

The U.K. carrier's shares are due to be consolidated on Monday at the rate of 6 new shares for 11 existing shares after the Verizon transaction closes on Friday.

Based on closing stock prices and currency rates yesterday, for example, a Vodafone stockholder would receive £0.72 in Verizon shares and £0.30 in cash for each Vodafone share they hold. (PR)