Vodafone sells Japanese arm for £9bn

Vodafone has completed the sale of its Japanese arm to local telecoms company Softbank in a deal that values the company at ¥1.8bn, or around £9bn.

In return for its 97 per cent stake in Japan’s third biggest operator, Vodafone KK, Vodafone will receive some £6.8bn in cash, of which £6bn will be distributed to shareholders.

We knew this was coming, so no real shock. So Voda has now shifted it’s Nordic business, it’s Japan business and soon it’s US business. Can it hang on to it’s image as one of the, if not the largest cellular operators? [via]
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