Gent resignation boosts Vodafone's share price

Vodafone led London's index of shares after company CEO Arun Sarin appeared to have stamped his authority on the embattled telecom group, an AFP report said.

 

Sarin's predecessor, Christopher Gent, resigned as Vodafone's honorary president following reports of a rift among the management of the world's biggest mobile phone group, the report said.

 

Vodafone saw its share price jump 3.41% to 129 pence in early trading.

 

Gent resigned after The Observer reported that he might be forced to leave after Vodafone chairman Ian MacLaurin tried to oust Sarin, the report said.

 

But MacLaurin denied reports of a rift, saying he fully supported Sarin, the report said.

 

Gent, who built Vodafone into a global mobile phone player through a string of foreign acquisitions, was said to have turned against Sarin, who recently bowed to shareholder pressure to sell Vodafone's underperforming business, the report said.

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