Vodafone Completes Sale of Stake in Polkomtel
- Thursday, November 10th, 2011
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Vodafone has announced the completion of the disposal of its stake in Polish telecoms operator Polkomtel. Vodafone held 24.4 per cent of the company, but has sold its entire stake to Spartan Capital Holdings, an investment vehicle controlled by Polish businessman Zygmunt Solorz-Zak.
Vodafone received a cash consideration of around €920m (£790m) from Spartan Capital holdings before tax and transaction costs. 
The disposal underpins Vodafones strategy to realise value from its non-controlled assets, says the company. Net proceeds from the sale of Vodafones stake will be used to reduce its net debt.
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