The news:

Vodafone sells stake in China Mobile

Author: Graeme Wearden

Buyers sought for $6.7bn holding as Vodafone turns its back on aggressive strategy of worldwide acquisitions

Vodafone has begun cutting its stakes in mobile networks around the world by selling its shareholding in China Mobile for £4.3bn. The company announced last night that it has sold its 3.2% stake in the world's biggest mobile operator. Around 70% of the proceeds will be returned to shareholders through share buyback.

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