Vodafone To Sell $5 Billion Worth Of Softbank Stake

The Vodafone Group is planning to sell about £3.1 billion ($5 billion) worth of equity in Japanese mobile carrier company Softbank. Vodafone gained equity in Softbank after selling them Vodafone Japan in 2006. The company is starting to sell off their non-core assets and they have raised their outlook for the year. They plan to use this money to reduce their debt. [DealBook]

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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