Vodafone Sells Spanish Unit in Turnaround Boost: The London Rush

Good morning. Vodafone Group Plc struck a €5 billion deal to sell its Spanish unit to “buy-fix-sell” investor Zegona Communications Plc. Vodafone’s new Chief Executive Officer Margherita Della Valle called the move a “key step in right-sizing” the group’s portfolio. Still, shareholders will have to wait and see if and whether the deal will result in further capital returns. The telecom giant said it will decide on the “optimal use” of proceeds next year.

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