Vodafone pockets $6.5bn in China Mobile sale

Friday, September 10, 2010

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.

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