Vodafone is preparing to sell its 3.2 per cent shareholding in China Mobile, in a move that highlights the UK mobile phone group’s determination to dispose of its minority stakes.
The company has appointed Rothschild to supervise the sale of the stake, which is worth almost $6.8bn (€5.3bn) based on the Chinese mobile operator’s share price.
At least some of the proceeds are likely to be returned to shareholders, some of whom have been pressing Vodafone to dispose of its minority stakes.
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