- Vodafone ( NASDAQ: VOD ) said on Monday it will sell its Hungarian business unit to a local IT company and receive $1.82B from the sale.
- The sale, announced in August, will see 4iG Public Company and Corvinus Zrt receive Vodafone Hungary, which is one of the leading converged network operators in the country.
- Vodafone ( VOD ) said the proceeds would be used to pay down debt.
- The British telecom has worked to pare down debt and sell assets across the globe, including selling its Vantage Towers ( OTCPK:VTWRF ) wireless infrastructure unit.
- Vodafone ( VOD ) shares slipped fractionally in premarket trading on Monday.
- Vodafone ( VOD ) is looking for a permanent CEO after Nick Read stepped down as Group Chief Executive and as a Director on December 31, 2022 .
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Vodafone will sell Hungarian business and receive $1.8B from sale