Vodafone streamlines its structure

Vodafone streamlines its structure

London: Vodafone PLC says it is streamlining its structure by cutting its operating sectors from three to two and moving minority stakes outside those new divisions.

The portfolio overhaul announced Thursday follows investor complaints, with some shareholders calling on the company to offload some minority-owned assets.

Vodafone says that from 1 October it will have two operating regions: Europe in one unit and Africa, the middle east (west Asia) and Asia Pacific in the other.

Its minority stakes in US operator Verizon Wireless, France’s SFR, Poland’s Polkomtel and India’s Bharti will be held separately. It says no decision has been made on the future of these assets.

The company earlier this week sold its stake in China Mobile to the company for $6.6 billion.