Vodafone gets out of China

Vodafone is planning to raise $4.3bn selling its stake in China Mobile, and will be handing most of the cash to its shareholders. The deal will be done through an "accelerated bookbuilt" arrangement, backed by some of the more popular investment banks. About a third of the money will be dropped into Vodafone's existing debt, …

[DB2k]

Tax

maybe it can use some of that money to pay its 6bn UK tax bill....