Vodafone bosses to collect £56m windfall after sale of Verizon Wireless
Vodafone is selling its stake in America's biggest mobile network in the third-largest transaction in corporate history
Juliette Garside, telecomms correspondent The Guardian, Sunday 20 October 2013 14:54 EDT
Vodafone's senior team will collect a £56m windfall when the mobile operator completes the sale of its Verizon Wireless subsidiary next year.
In the third-largest transaction in corporate history, Vodafone is selling its stake in America's biggest mobile network to its joint venture partner, Verizon Communications, for $130bn (£80.4bn), and has promised to return 71% of the money to shareholders.
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