It seems Vodafone is looking into selling its minority interests in operators in China and France. In China, UK’s group holds 3.2% of China Mobile, which [Vodafone’s share] is now worth nearly $6 billion. As for France, Voda owns 44% of SFR (the majority owner is Vivendi).
Investors apparently like the idea as Vodafone looks to emerging markets for growth. If they end up selling some of the assets mentioned above, the money may be used to finance Vodafone’s spectrum costs in India and Germany as well as reducing debt. That’s according to Merrill Lynch analysts, who also said such a move would “crystallise value, reduce indebtedness and highlight management’s willingness to actively manage the portfolio.”
In addition to France and China, Vodafone is also reportedly in talks to sell its majority stake in Vodafone Egypt which reportedly is worth around $4.3 billion. Fixed-line operator Telecom Egypt, which already owns 45% of the mobile operation, is seen as a likely buyer…
[Via: MobileBusinessBriefing]