BGN Entrepreneur

The British company–Vodafone Group has bought its stake in China Mobile, which is 74% owned by state-owned China Mobile Communications, in two cases in 2000 and 2002 to 3.25 billion dollars. Now the company is going to sell its stake from 3.2% in China Mobile Ltd. for about $ 6.6 billion.
Vodafone announced Tuesday by e-mail that some 70% of the proceeds will be returned to shareholders via a share buyback, and the rest will be used to repay debt. Morgan Stanley, UBS and Goldman Sachs are now managing the offering.
Vodafone said it does not consider minority stakes essential.

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