Reuters ahead on Vodafone’s $6.6 billion China Mobile stake sale, shares move

Shares in Vodafone erased losses after Reuters broke the news on Sept 7 that the mobile giant had launched a sale of its $6.6 billion stake in China Mobile. Vodafone later confirmed it was exiting its 3.2 percent stake in China Mobile, nearly doubling the value of its investment made a decade ago.Trading volume in Vodafone spiked soon after the Reuters story, while the stock recouped losses to edge up, bucking a weaker overall market. China Mobile`s Hong Kong shares fell as much as 4.2 percent the next day, the most in a year. Bloomberg was forced to cite Reuters in its story, which was quickly picked up by several major international media outlets.