Vodafone gets £4.3bn for its China Mobile stake


Vodafone gets £4.3bn for its China Mobile stake

Ian Grant

Mobile network operator Vodafone has confirmed that it is to sell its entire 3.2% interest in China Mobile for £4.3bn in cash, but said it will continue to co-operate on roaming, network roadmap development, multinational customers and green technology.

The company said that about 70% of the net proceeds would be returned to shareholders by way of a share buyback. The rest would go to cutting the group's net debt, which last June stood at £32.7bn.

Vodafone chief executive Vittorio Colao said the deal had almost doubled the value of Vodafone's original investment in China Mobile.

Email Alerts

Register now to receive ComputerWeekly.com IT-related news, guides and more, delivered to your inbox.
By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

COMMENTS powered by Disqus  //  Commenting policy