Vodafone Group has announced a major restructuring that will place its minority stakes, including Verizon Wireless, in a separate unit from its core businesses.
The restructuring comes two days after Vodafone sold its 3.2 percent stake in China Mobile for $6.65 billion. Vodafone holds a 45 percent stake in Verizon Wireless.
Under its new organizational structure, Vodafone is placing its businesses in Europe in one group and its businesses in Africa, the Middle East and the Asia Pacific in another regional group.
Vodafone’s minority investments in Verizon Wireless, SFR, Polkomtel and Bharti Holding have been excluded from the regional structures.
The new organizational structure becomes effective Oct. 1.
Verizon Wireless hasn’t paid dividends to its co-parent company for several years, prompting shareholders to push Vodafone to divest the unit.