Mobile phone giant Vodafone has announced that it is granting 375 million-worth of share options to staff in twelve of its subsidiaries around the world.
Vodafone employees in countries from Egypt to Hungary have beenawarded options worth up to half their annual salary.
The shares, priced at 157 based on Vodafone's closing price on Friday can be cashed in either three or ten years' time.
Vodafone's share scheme already operates in the UK and the USA andchief executive Sir Christopher Gent said the move reflected thecompany's position as an increasingly global group.
He added: "This move will be critical in ensuring the commitment and motivation of our employees on whose support we depend."
Vodafone, the biggest mobile phone operator in the world, has apresence in 29 countries.
Those staff to be granted share options are based inAustralia, Egypt, Germany, Greece, Hungary, Ireland, Italy, Malta,Netherlands, New Zealand, Portugal and Spain.
Vodafone's move comes just three days after telecoms equipmentcompany Marconi decided not to lower the exercise price of shareoptions granted to six directors after pressure from institutional investors.
Marconi's share price has nose-dived in the recent tech bloodbath on the London Stock Exchange, making the options almost worthless. The company did lower the exercise price for more than 34,000 staff. end