Belgacom Pays Vodafone $2.6 Billion For Proximus Stake

Vodafone is continuing its contractionist strategy, selling its 25% stake in Belgian mobile operator Proximus to Belgacom for 2 billion euros (around US$2.6 billion). “KBC analyst Dirk Saelens said the price for Belgacom was reasonable. He said the company had been paying Vodafone around 140 million euros per year for its minority interest, but would instead now be paying interest closer to 100 million euros.”
Vodafone also recently sold its Japanese operations but has resisted selling its stake in Verizon Wireless.

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