Feeds

Vodafone flogs stake in Japanese carrier for £3.1bn

Needs cash to chip at debt

Best practices for enterprise data

Vodafone is to sell its non-controlling stake in the Japanese carrier Softbank for £3.1bn, it announced today.

It follows the disposal of its 3.2 per cent interest in China Mobile in September. The cash from both sales will be used to pay down debts and placate investors with share buybacks.

The group said it will now focus on markets in Europe, Africa and India.

The announcement came alongside strong half-year results. Revenues were up 3.9 per cent on the same period a year ago, to £22.6bn. Adjusted operating profits rose 2.7 per cent, to £6.07bn.

EBITDA fell by 1.2 per cent to £7.36bn. However, the slip was smaller than investors expected. The full year profit forecast was raised to between £11.8bn and £12.2bn.

Vodafone still faces anger in the UK over its tax affairs. Protestors closed its high street stores in October over a deal with HMRC that will see an estimated £6bn bill unpaid. Vodafone has declined to comment on the settlement.

At time of writing the firm's shares were trading up almost three per cent. ®

Recommendations for simplifying OS migration

More from The Register

next story
Trying to sell your house? It'd better have KILLER mobile coverage
More NB than transport links to next-gen buyers - study
iWallet: No BONKING PLEASE, we're Apple
BLE-ding iPhones, not NFC bonkers, will drive trend - marketeers
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
Scotland's BIG question: Will independence cost me my broadband?
They can take our lives, but they'll never take our SPECTRUM
NBN Co adds apartments to FTTP rollout
Commercial trial locations to go live in September
Samsung Z Tizen OS mobe is post-phoned – this time for good?
Russian launch for Sammy's non-droid knocked back
Speak your brains on SIGNAL-FREE mobile comms
Readers chat to the pair who flog the tech
prev story

Whitepapers

7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
A new approach to endpoint data protection
What is the best way to ensure comprehensive visibility, management, and control of information on both company-owned and employee-owned devices?