Vodafone’s dollar bonds were up by ~0.7-1.3 points after it said that it agreed the sale of its Hungarian business to local IT company 4iG and the Hungarian state for a cash consideration of €1.7bn ($1.8bn) from the deal. 4iG will hold a majority 51% stake while the Hungarian state will hold 49%. The intention for the deal was first announced in August and proceeds from the sale would be used to repay its debt. Vodafone has been in the process of selling assets to focus on its core European and Africa operations.
Its 4.25% 2050s were up 1.3 points to 81.68, yielding 5.55%
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