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. Last Updated: 07/27/2016

Vodafone Revolt Urged

LONDON -- Vodafone Airtouch PLC may face a shareholder revolt over the payment of a pounds 10 million ($15 million) bonus to chief executive Chris Gent, the National Association of Pension Funds said Monday.

NAPF said it was calling on its 1,450 members to abstain in a vote on mobile phone giant Vodafone's remuneration policy at its annual general meeting this month.

Some large shareholders are unhappy that Vodafone is paying Gent the bonus as a reward for the acquisition of Germany's Mannesmann, according to newspaper reports. Others said they have no problem with the arrangement, which also includes payments to other key executives.