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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/vodafone-finalising-sfr-sale-deal.jpg"><img class="alignnone size-full" title="Vodafone is on the verge of selling its stake in French mobile phone company SFR" src="http://londonglossy.com/wp-content/uploads/2010/12/min-vodafone-finalising-sfr-sale-deal.jpg" alt="Vodafone is on the verge of selling its stake in French mobile phone company SFR"/></a></p>
<p>Vodafone is said to be on the verge of selling its stake in French mobile phone company SFR in a move that will pave the way for a £5 billion share buyback.</p>
<p>The Newbury-based mobile phone giant is understood to be finalising a deal to sell its 44% holding to French media group Vivendi, which owns the rest of the group, for £7 billion, according to the Observer newspaper.</p>
<p>The group is also expected to announce that it has raised a further £800 million from the sale of its 24% stake in Polish group Polkomtel.</p>
<p>It is thought that some of the money will be returned to shareholders through a share buyback, with the rest used to pay down debt.</p>
<p>The latest transactions are part of Vodafone&#8217;s ongoing strategy of streamlining the group through offloading minority holdings it has in telecoms groups around the world.</p>
<p>It has raised more than £7 billion during the past six months after selling its holdings in China Telecom and Japan&#8217;s Softbank.</p>
<p>But despite this, the group is expected to hold on to its 45% stake in Verizon Wireless in the US, which has long been tipped for a sale.</p>
<p>It is thought the stake could fetch about £33 billion, but it is understood the disposal would trigger a £10 billion capital gains tax bill.</p>
<p>The group was recently hit with a £1.6 billion back-tax bill by authorities in India, following its 2007 acquisition of the Indian telecom assets of Hong Kong conglomerate Hutchison Whampoa.</p>
<p>Vodafone, whose joint venture with India&#8217;s Essar group is one of India&#8217;s largest mobile operators, disputes that it owes tax on the 11 billion US dollar transaction (£7 billion) because it took place between two foreign companies.</p>
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