Vodafone 2014 Annual Report Download - page 16
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A big deal!
This was the second biggest transaction ever
and the return of US$85 billion (£51 billion)
is the equivalent of around 90% of the total
dividends paid by all the other FTSE 100
companies in the whole of 2013.
Vodafone Italy
As part of the transaction we also agreed
to acquire Verizon’s 23% stake in Vodafone
Italy, in which we owned 77%, thereby
securing full ownership.
Crystallising value from Verizon Wireless
Opening the next
chapter in the
history of Vodafone
On 2 September 2013, we announced our agreement with Verizon to
sell our US group, whose principal asset was its 45% interest in Verizon
Wireless, for US$130 billion, mainly in cash and Verizon shares. We chose
to return around 71% of the net proceeds to shareholders amounting to
around US$85 billion. This is the largest ever single return to shareholders
in history and rewards our shareholders for their long-term support of our
US strategy. This also represents the opening of an important new chapter
in our history by leaving us in a strong nancial position and well positioned
to execute our strategy.
Vodafone Group Plc
Annual Report 2014
Vodafone Group Plc
Annual Report 20141414