Wednesday, September 8, 2010

Vodafone Pocket 6500000000 $ with China Mobile for sale

Vodafone generated $ 6500000000 (4200000000) in cash after the sale amounted to 3.2% of China's largest mobile operator mobile phone operator in China.


This is the largest telecommunications company sales in the UK-based holding of non-strategic.

Buyers goals, many are not yet identified, perhaps.

The 643m shares traded in Hong Kong and offers a discount of 3.4% registered at the market price.

Suddenly, a new offering price weighed on shares of Chinese companies, which ended the day 3.8%.

The normal daily turnover of shares in China Mobile is 21m, but Vodafone settings, this number can be increased to 740.

Continue cooperation

The company said it would return 70% of net income to shareholders through share repurchase.

remaining revenue is used to reduce group net debt.

Newbury-based Vodafone initially invested in China Mobile in 2000 and he said, both companies will continue to work together in areas such as roaming, network development roadmap, multinational clients and green technology.

"The transaction reaches twice the initial investment of only Vodafone Mobile, China and other portfolio strategy that combines continued our partnership with leading telecommunication companies in China," said Vodafone chief executive Vittorio Colao.

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