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Vodafone to create 1,400 new jobs with new stores

The 150 shops will open over the next 12 months, increasing the total number of Vodafone's branded UK outlets to more than 500.
The 150 shops will open over the next 12 months, increasing the total number of Vodafone's branded UK outlets to more than 500. Credit: Yui Mok/PA Archive

Vodafone has unveiled plans to open 150 new shops creating 1,400 new retail roles over the next 12 months.

The new shops will open over the next 12 months, increasing the total number of Vodafone's branded UK outlets to more than 500.

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CEO: Vodafone will be just as strong without Verizon

by - Former Business Editor

Chief executive Vittorio Colao told me that Vodafone will be just as strong a company without Verizon.

Mr Colao said Vodafone's tax arrangements are based on the standard rules and there is no UK tax due on the deal.

Vodafone sign.
Vodafone has sold its 45% in Verizon for £84 billion. Credit: Paul Faith/PA Wire

He insisted Vodafone was paying "the right amount of standard taxes" but that "everyone is entitled to their opinion" if they are frustrated by that.

Click here to read Laura Kuenssberg's blog on why Vodafone's £84 billion tax-free deal could still benefit the UK economy

Vodafone chief wishes Verizon 'continuing success'

Vodafone Group chief executive Vittorio Colao said its £84 billion deal with Verizon will allow both companies to "execute on their long-term strategic objectives" and wished the mobile phone giant "continuing success".

Vodafone Group chief executive Vittorio Colao.
Vodafone Group chief executive Vittorio Colao. Credit: Dominic Lipinski/PA Wire

Mr Colao continued, "Our two companies have had a long and successful partnership and have grown Verizon Wireless into a market leader with great momentum."

£84bn Vodafone deal third biggest in corporate history

Vodafone's £84 billion sale of its 45% stake in Verizon represents the third biggest deal in corporate history.

Vodafone's £84 billion sale of its Verizon stake is the third biggest in corporate history.
Vodafone's £84 billion sale of its Verizon stake is the third biggest in corporate history. Credit: Rui Vieira/PA Wire

Under the agreement, which will leave Verizon with 100% of the largest mobile operator in the US, Vodafone will receive $58.9 billion in cash (£37.8 billion), $60.2 billion (£38.6 billion) in Verizon stock and an additional $11 billion (£7.1 billion) from smaller transactions.

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