11 September 2006

BE - Vodafone exits Belgium for £1.4bn

Vodafone has sold its 25% stake in the Belgian mobile phone business Proximus to Belgacom for 2bn euros (£1.4bn). The deal is in line with Vodafone's strategy of pulling out of markets with limited long-term commercial benefit. The firm sold its Japanese business last year for £8.9bn and has come under pressure to sell its holding in US business Verizon Wireless.