Vodafone is the world’s largest mobile communication company by revenue and the second largest in terms of subscriber’s right behind China Mobile. Vodafone is the 3rd largest company in the London Stock Exchange. Just this Wednesday this powerhouse agreed to sell its entire 3.2% stake in China Mobile for around 6.5 billion. This sale was no surprise to people because for years they have tried to disconnect their ties but were always unable to come to terms.
Since Colao took the top job in the company, investors have been expecting he would sell and divest assets as the company tries to improve its value. He did just that with his 1st big move as CEO after taking over the company 2 years ago. After this stake, shares in Vodafone dropped 0.6% on the London Stock Exchange after the announcement, while shares in China Mobile closed down 3.8% in Hong Kong.
Attached below is the article: http://online.wsj.com/article/SB10001424052748703720004575478190092112252.html?mod=ITP_marketplace_3
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