Vodafone Selling Stake in Softbank
The Vodafone Group said Tuesday that it plans to sell securities in the Japanese wireless operator Softbank Corporation for £3.1 billion ($5 billion).
Vodafone, the mobile-phone company, also raised its full-year profit forecast, after fiscal first-half sales rose 3.9 percent, to £22.6 billion. Earnings before interest, taxes, depreciation and amortization fell 1.2 percent, to £7.36 billion, the company said. That beat the average estimate of £7.29 billion by analysts in a Bloomberg survey.