Vodafone sells Swisscom stake

Vodafone has announced it is to sell its 25% interest in the Swisscom Mobile firm to Swisscom for £1.8bn (€2.7bn).

Swisscom is the largest mobile operator in Switzerland and already owns 75% of Swisscom Mobile.

Vodafone and Swisscom Mobile have signed a revised long-term network partnership deal, and will continue to co-operate in serving international business customers.

Vodafone chief executive Arun Sarin said: "We do not see ourselves as the most appropriate holder of this minority stake in the longer-term."