Acciona sells Vodafone stake

5 Jan 2004

Spanish construction group Acciona has sold its stake in UK mobile giant Vodafone for EUR727 million (USD917 million).The company received the stake last year when it sold Vodafone a 6.2% stake in Spanish cellco Airtel. The transaction was initially scheduled to take place in July 2004, but was moved forward so that Acciona would not have to pay avoidance taxes in the first quarter.