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Verizon shareholders approve buyout of Vodafone stake, deal expected to close next month

Brad Molen

The next step in Verizon's buyout of Vodafone's 45 percent stake in the company is now complete. Shareholders held a special meeting to vote on the matter, and their consensus was to issue 1.3 billion shares to Vodafone shareholders to complete the transaction; in London, Vodafone shareholders also conducted a vote on the matter today as well, giving Verizon the green light. Now that this hurdle is out of the way, the last step is for the High Court of Justice of England and Wales to approve the deal (along with other customary closing procedures) -- and as long as everything works out, the transaction is expected to close on or around February 21st.

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