Vodafone has pocketed $6.5bn (£4.2bn) in cash following the sale of its 3.2% stake in China's biggest wireless operator, China Mobile.
It is the biggest such sale by the UK-based phone company of its non-strategic investments.
The buyers of the stake, of which there may be several, have not been identified.
The 643m shares, listed on the Hong Kong stock exchange, were offered at a 3.4% discount to the market price.
BBC News