Vodafone (LSE: VOD.L) has sold its stake in French mobile group SFR for €7.75bn (£6.8bn) to Vivendi is positive according to Questor. The company is also in the process of selling its Polish operations, which could raise as much as €4bn. Vodafone is also expecting to get bumper payouts from its stake in US group Verizon Mobile possibly as soon as next year.The only fly in the moment is an issue with taxation in India, which is yet to be resolved in court which arose regarding its majority stake purchase in Hutchison Essar in 2007 which the group say is not applicable as the operation was "offshore"
“All the advice received by Vodafone during, and since, the acquisition is that there is no tax, or therefore penalty, that arises and Vodafone will take all appropriate steps to defend itself and its investors against this latest unwarranted action from the tax authority,” Vodafone said yesterday.
Vodafone is hoping to raise the payout by 7pc a year the current yield is 5% and the 1 year price target according to Yahoo 196.45p - 52 week Range:126.50p - 250.00p
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