Vodafone mulls Arcor sale

Mobile operator to get a little extra in its stocking this year?

Vodafone is on the brink of selling off its stake in a German joint venture as it seeks to dramatically reduce its debts. According to the Financial Times, the company is expected to sell its 74 per cent stake in fixed line telephony company Arcor for about £1bn to venture partner Deutsche Bahn, the German state-owned rail and electricity company. Vodafone gained its stake in Arcor when it bought Mannesmann last year.