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NEW YORK, Dec 10 (Reuters) - Vodafone Group Plc expects to close the $130 billion sale of its 45 percent stakein Verizon Wireless to Verizon Communications and thatshareholders will have received the proceeds of the deal byearly March in line with the companies' target for a firstquarter close.
The companies announced a cash and stock deal on Sept. 2after Verizon, which already controls Verizon Wireless, triedfor roughly a decade to buy the Vodafone stake.
While Vodafone noted that some dates could be subject tochange, it said in a timetable posted online on Tuesday that thetransaction is expected to be completed in late February afterwhich it aims for cash payments to be made to its shareholdersfor the deal on March 4.
Shareholders of both Vodafone and Verizon, already themajority owner of Verizon Wireless, are expected to vote on thedeal roughly a month before on Jan. 28. Verizon said on Dec. 4that it had won approval for the deal from U.S. regulators.
Vodafone has said it would return about $84 billion, orabout 71 percent of the net proceeds of the deal, to itsshareholders and use the rest to invest in its network.
Verizon has said that it hopes full ownership of the No. 1U.S. wireless service provider will give it more flexibility andopportunities to integrate the business with its wired network.
