VODAFONE POCKETS $6.5BN IN CHINA MOBILE SALE
Baku, September 8 (AZERTAC). Vodafone has pocketed $6.5bn in cash following the sale of its 3.2% stake in China`s biggest wireless operator, China Mobile, according to BBC News.
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% discount to the market price.
The sudden new supply weighed on the Chinese company`s share price, which ended the day down 3.8%.
The normal daily turnover for China Mobile`s shares is 21m, but Vodafone`s disposal saw that figure spike to 740m.
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