LONDON, Sept 2 (Reuters) - Vodafone agreed to sellits 45 percent stake in U.S. mobile operator Verizon Wireless toVerizon Communications for $130 billion, bringing an endto one of the longest running corporate standoffs with theworld's third-largest deal.
Under the agreement announced on Monday, which will leaveVerizon with 100 percent of the largest mobile operator in theU.S., Vodafone will receive $58.9 billion in cash, $60.2 billionin Verizon stock and an additional $11 billion from smallertransactions.
At completion in the first quarter of 2014, Vodafoneshareholders are expected to receive all the Verizon shares and$23.9 billion of cash, which comes to $84 billion flowing backto shareholders.
"The board, therefore, intends to increase the total 2014financial year dividend per share by 8 percent to 11 pence, andintends to grow it annually thereafter," Vodafone said. (Reporting by Kate Holton; editing by Leila Abboud)
Vodafone (VOD)