Vodafone is the largest mobile telecommunications network company in the world, with equity interests in 25 countries and Partner Networks in a further 40 countries. At 31 March 2007, Vodafone had approximately 206.4 million proportionate customers worldwide.
I've sold my shares as stated but just had the Notification details through in my account. Perhaps it's because I have been a holder and takes a week for full transaction to clear. Just receiving it could make me question my decision to sell! Anyway for benefit of others here are the details: Vodafone Group (Vodafone) has announced that they are proposing to sell a US group which owns 45 percent stake in Verizon Wireless for approximately USD130 billion. Should the disposal be approved at a Vodafone plc General Meeting on 28th January 2014 the Company will be seeking to return 71 percent of the value of the sale to its shareholders in cash and Verizon shares. The entitlements will be based on your holding on the Ex-entitlement Date, this being 24th February 2014. The full terms and applicable dates with the options available will be communicated in due course and exact final amounts will depend on the relevant Verizon share price and the dollar exchange rate on completion. For illustrative purposes only, if the Scheme Effective Date occurred on 6th December 2013 (this being the last practicable date prior to the publication of the Scheme Document), shareholders would have been entitled to USD1.22 (approximately 75 pence) in Verizon shares and USD0.49 (approximately 30 pence) in cash. This illustration is based on the Average Trading Price of Verizon shares of USD50.14 over the 20 trading days ending on 3rd December 2013 (the third business day prior to 6th December 2013. Furthermore, Vodafone is also proposing a Consolidation of its Ordinary shares at a ratio yet to be determined. Important Information & Other Key Dates: The Company has announced proposals for a Return of Capital to its shareholders, which will be implemented upon completion of a transaction whereby Vodafone intend to sell their 45 percent stake in Verizon. Vodafone's sustained investment in Verizon has created a great deal of value for shareholders. Verizon's Offer now provides the Company with an opportunity to realise this value at an attractive price. The Company anticipate receiving USD130 billion (approximately GBP79 billion) mainly in cash and Verizon shares which will enable the Company to make a significant return of value to shareholders. Vodafone also intends to effect a Consolidation of its Ordinary shares to seek to maintain comparability of its share price before and after the Return of Capital. The Return of Capital and Consolidation will both be subject to shareholder approval at an Extraordinary General Meeting and court approval at a Court Meeting, both to be held on 28th January 2014. The Scheme will also be subject to court sanctioning at a Court Hearing to be held on 21st February 2014. The ratio at which the Consolidation is to be implemented is expected to be announced on 19th February 2014 with the Consolidation anticipated to become effective on 24th February 2014. We will write to you in due course upon
U.S. cable group Liberty Global this month said it was in talks to buy Dutch operator Ziggo. Telefonica has proposed to buy KPN's German unit and there has been persistent market speculation that AT&T may be eyeing a possible bid for Vodafone
Re: Even Sunset has his price
Yes, 247p - 248p for cash. Yes, I have factored in a future take over, a Santa Rally, a feel good factor, a **** up and lock-in and Alan Partridge in a peer tree! That should get it up to my sell price. Market a bit flat today but ticking back up a little bit here... A penny's a penny!
RE: number crunching
You lost me a bit there Lord H. I'm not great with maths. My theory is with the 'Return of Capital/Special Div/Consolidation' that you shouldn't gain or lose anything based on the sp of the closing day(Fri 21st Feb). There are tax considerations but there are also CGT considerations if you sell. The main thing is that you will get your value returned in 3 different ways: new VOD shares + VZ shares + US$. The question is what will the VOD share price be from now until Fri 21st Feb? And will there be an added premium for an alleged Takeover bid(before or after consolidation)that you might lose out on if you exit? And how much would that be? As you know I have decided to sell and if and when the sp rises above the present tapering jitters then I will. If they had offered all the RofC/Special Div in VZ shares I think that would have tipped me in favour of staying in. But I have my interim divi secured and there won't be another until next summer-ish so I am going for the simplicity option of selling. Even Sunset has his price!
I have just been working out the numbers with ref Vodafone, with a share price at 231.4. If I sell I would make a profit of 3,127 if I stay the sp/div pays 3.923. However with the consolidation 2-4-1, my original stake is cut in half the new value based on 231.4 would be 4,044, add to this the sp/div gives me a total of 7,967. If I sell now at 231.4, I walk away with total of 8,106 . So I would be £139 down on the deal by keeping Vodafone. I know this is be a little wrong, but it looks like a big gamble staying in Vodafone. Do my numbers make any sense or have I missed something and gone round the bend, even if AT &T come in they would have to pay higher than 231.4.
AT&T Bid For VOD "Highly L..
http://www.ft.com/cms/s/0/e393b51a-61c2-11e3-aa02-00144feabdc0.html#axzz2nCa28EjY Part of an article from the FT Vodafone drifted 1.2 per cent to 230.7p as AT&T boss Randall Stephenson added no new colour on the group’s European ambitions in a conference speech in New York. Meanwhile, Redburn Partners estimated that Vodafone has £20bn of tax losses, equivalent to 20p a share, which “together with the difficult domestic situation and rising cash taxes AT&T faces makes a bid for Vodafone highly likely”.
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