Vodafone group chief executive Vittorio Colao
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Vodafone chief: 'Offer too good to refuse'

Vodafone has sold its 45% stake in Verizon Wireless to US telecoms group Verizon Communications in one of the biggest deals in corporate history.

The $130bn (£84bn) deal was announced by Vodafone after the close of trading on the London Stock Exchange.

The company will return £54bn to its shareholders, of which £22bn will go to shareholders in the UK.

Talking to the BBC's business editor, Robert Peston, Vodafone group chief executive Vittorio Colao said: "We got an offer that we thought was in the interests of our shareholders to accept".

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