Vodafone has agreed to sell its 25% interest in Swisscom Mobile to Swisscom for £1.8 billion. Swisscom already owns 75% of Swisscom Mobile, the leading mobile operator in Switzerland.

Vodafone and Swisscom Mobile have signed a revised long-term network partnership deal, and will continue to co-operate in serving international business customers.

'We do not see ourselves as the most appropriate holder of this minority stake in the longer-term,' said Vodafone chief executive Arun Sarin. He described the price as 'attractive'.