World’s leading mobile operator Vodafone Group PLC is mulling over plans to divest its 3.2 per cent stake in China Mobile for more than £4 billion.
Vodafone’s chief executive Vittorio Colao has already backed up the plan but the company is considering if it should find a strategic investor for its stake or sell the shares on the Hong Kong stock exchange.
The mobile phone operator, which has a market capitalisation of £81 billion, wants to concentrate on its key markets including Europe, Africa and India.
Earlier, Mr. Colao used the company's AGM to announce, "we are not here to manage minorities.”
The company is expected to complete the potential sale of its stake before Mr. Colao updates the market on the company's strategy in the month of November.
A Vodafone spokesperson declined to comment on the reports.
However, the emerging reports dragged shares in China Mobile down by 1.7 per cent to HK$80.25 per cent by trading break in Hong Kong.