Vodafone is selling its 25% stake in Swisscom Mobile. The Swiss telecoms company is to pay £1.8bn to buy back its own shares.
The two companies have agreed a five-year deal that enables Swisscom Mobile customers to continue to access Vodafone products and services including international roaming, but the divestment provides Vodafone with some handy cash and represents another move towards focusing on its core business.