Vodafone pockets $6.5bn in China Mobile sale

Vodafone has pocketed $6.5bn (4.2bn) in cash following the sale of its 3.2 percent stake in China's biggest wireless operator, China Mobile.

It is the biggest such sale by the UK-based phone company of its non-strategic investments.The buyers of the stake, of which there may be several, have not been identified.

The 643m shares, listed on the Hong Kong stock exchange, were offered at a 3.4 percent discount to the market price.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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