Vodafone is to sell its 44% stake in the French mobile phone operative SFR to Vivendi for 7.95bn euros (£7bn).
The deal gives Vivendi, France’s major mobile phone business, full control of SFR and ends months of discussion with Vodafone.
The UK Company has been slimming down its selection, and lately sold stakes in Chinese and Japanese mobile operators.
Vodafone will return £4bn to its shareholders by buying reverse shares.
The UK Company’s chief executive, Vittorio Colao, said in a declaration that Vodafone would continue sales of some assets in operations it does not control.
They said, “The sale of our stake in SFR, at an attractive multiple, represents a significant further step in the execution of this strategy.”
Vodafone has previously trade its option stakes in China Mobile and Japanese transporter SoftBank. The UK company is also looking sell its interest in Poland’s Polkomtel.
Previous month Deutsche Telecom, agreed to sell its T-Mobile America business to AT&T for $39bn (£24bn).
The deal gives Vivendi, France’s major mobile phone business, full control of SFR and ends months of discussion with Vodafone.The UK Company has been slimming down its selection, and lately sold stakes in Chinese and Japanese mobile operators.
Vodafone will return £4bn to its shareholders by buying reverse shares.
The UK Company’s chief executive, Vittorio Colao, said in a declaration that Vodafone would continue sales of some assets in operations it does not control.
They said, “The sale of our stake in SFR, at an attractive multiple, represents a significant further step in the execution of this strategy.”
Vodafone has previously trade its option stakes in China Mobile and Japanese transporter SoftBank. The UK company is also looking sell its interest in Poland’s Polkomtel.
Previous month Deutsche Telecom, agreed to sell its T-Mobile America business to AT&T for $39bn (£24bn).
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