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  Vodafone shares soar ahead of $130bn Verizon Wireless deal - but UK taxman will not see a penny
  
  One of the biggest corporate deals is set to be completed as the British company sells its 45 per cent
  
  stake in America's biggest mobile phone giant
  
  British mobile phone giant Vodafone is about to complete one of the biggest corporate deals in history,
  
  selling its stake in American Verizon Wireless for $130 billion (£84 billion) - but it will pay no UK capital
  
  gains tax on the profits.
  
  Shares in Vodafone rocketed to a 12-year high in anticipation of the deal, climbing almost 4 per cent
  
  to 214.1p, giving it a stock market capitalisation of £104 billion — even though the Verizon Wireless
  
  stake alone is worth £84 billion.
  
  Confirmation of the sale was expected within hours, once Verizon's board has met.
  
  The deal, the third biggest takeover in stock market history, is a major coup for Vodafone chief
  
  executive Vittorio Colao, who is set to return more than half the £84 billion to shareholders.
  
  Those close to the company expect it to pay virtually no tax on the profits because of UK exemption
  
  rules on substantial shareholdings in subsidiaries — a move that has delighted City investors but is
  
  likely to dismay some tax campaigners.

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