Reuters: Hot Stocks: CORRECTED-Vodafone shares open 4.2 pct up as Verizon deal nears

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CORRECTED-Vodafone shares open 4.2 pct up as Verizon deal nears Sep 2nd 2013, 07:10 Mon Sep 2, 2013 3:10am EDT LONDON, Sept 2 (Reuters) - Shares in Vodafone opened 4.2 percent up on Monday as the British company nears the sale of its 45 percent stake in Verizon Wireless to Verizon Communications for $130 billion in cash and shares. Vodafone shares rose to 215.3 pence, their highest level since April 2001, valuing the company at around 104 billion pounds ($161 billion). Vodafone said in a statement late on Sunday it was in advanced talks with the U.S. telecom giant to sell its 45 percent stake in the joint venture for $130 billion, comprising cash and common shares. Verizon Communications and Vodafone plan to announce a deal later Monday that will give the U.S. group control of Verizon Wireless, subject to final board approval, people familiar with the matter told Reuters on Sunday. Vodafone shares have risen 13 pct since news of the deal emerged on Thursday.

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