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Wednesday, February 19, 2014

Vodafone details share proceeds from Verizon deal, (NYSE: VZ)

Vodafone said on Wednesday shareholders would receive 0.026 shares in Verizon Communications for each Vodafone share they own as part of their payout for the $130 billion sale of the group's stake in Verizon Wireless. The British company also said its shares would be consolidated on Feb. 24 at the ratio of 6 new shares for 11 existing shares following the closure of the deal on Friday.

Verizon Communications Inc. (Verizon) is a holding company. Shares of VZ fell by 1.14% or $-0.53/share to $45.98. In the past year, the shares have traded as low as $44.34 and as high as $54.31. On average, 15052100 shares of VZ exchange hands on a given day and today's volume is recorded at 34926656.