Vodafone has been selling minority stakes in phone businesses to return money to shareholders Vodafone is to sell its 44% stake in the French mobile phone operator SFR to Vivendi for 7.95bn euros (£7bn).
The deal gives Vivendi, France's biggest mobile phone business, full control of SFR and ends months of talks with Vodafone.
The UK company has been slimming down its portfolio, and recently sold stakes in Chinese and Japanese mobile operators.
Vodafone will return £4bn to its shareholders by buying back shares.
The UK company's chief executive, Vittorio Colao, said in a statement that Vodafone would continue sales of some assets in operations it does not control.
"The sale of our stake in SFR, at an attractive multiple, represents a significant further step in the execution of this strategy," he said.
Vivendi operates a range of businesses, including Universal Music, the record label behind Lady Gaga, Justin Bieber and Rihanna.
It also controls video games maker Activision Blizzard, Brazilian telecom company GVT, and Canal Plus television.
Vodafone's deal with Vivendi is expected to be completed by June.
This article is from the BBC News website. � British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.
Source: http://www.bbc.co.uk/go/rss/int/news/-/news/business-12954789
No comments:
Post a Comment