KEY POINTS:
Telecom shareholders have approved a planned $1.1 billion capital return after the sale of the Yellow Pages business.
The capital return, if approved by the High Court, will see the cancellation of one share in every nine held by each shareholder, who will receive $4.88 per share.
Just over 95 per cent of votes were in favour of the return, which needed at least 75 per cent approval.
- NZPA
