02:30 ET<\/span>
\n<\/span><\/p>\nVodafone is to sell its 44% stake in the French mobile phone operator SFR to Vivendi for 7.95bn euros (\u00a37bn).<\/p>\n
The deal gives Vivendi, France’s biggest mobile phone business, full control of SFR and ends months of talks with Vodafone.<\/p>\n
The UK company has been slimming down its portfolio, and recently sold stakes in Chinese and Japanese mobile operators.<\/p>\n
Vodafone will return \u00a34bn to its shareholders by buying back shares.<\/p>\n
The UK company’s chief executive, Vittorio Colao, said in a statement that Vodafone would continue sales of some assets in operations it does not control.<\/p>\n
“The sale of our stake in SFR, at an attractive multiple, represents a significant further step in the execution of this strategy,” he said.<\/p>\n
Vivendi operates a range of businesses, including Universal Music, the record label behind Lady Gaga, Justin Bieber and Rihanna.<\/p>\n
It also controls video games maker Activision Blizzard, Brazilian telecom company GVT, and Canal Plus television.<\/p>\n
Vodafone’s deal with Vivendi is expected to be completed by June.<\/p>\n<\/p><\/div>\n<\/p>\n
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