19 Feb VODAFONE / VERIZON
ETF providers or Index Tracking firms faced significant difficulties in mirroring the FTSE index treatment employed for the spin-off of Verizion from Vodafone. Our initial analysis showed as a result of the Verizon to be received by Vodafone shareholders c. 3% of the full FTSE weight would be treated as a return of capital with foreign exchange risk and a significant short term capital requirement. SCORPEO worked with shareholders to firstly advise on the problems they would face on this corporate event then formulated execution mechanics to minimize potential losses.
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