Vodafone would shed a unit that it just doesn't seem able to fix and which certainly does not fit within the profile of the Vodafone investment portfolio.
Vodafone has been struggling with its Japanese unit for some time and attempts to turn it around have so far met with limited, if any, success. This has frustrated Vodafone's management and investors alike.
It's a disparate mix--there are so many different styles of joint venture; there's huge pressure on the U.S. It's a real tricky job. It's a noble task to try and gather all those places under one roof, but Paul Donovan has got a lot of sleepless nights ahead of him.
Selling Japan gets rid of an irritation, but it does not make everything else ok. There's still plenty of pressure in its core markets and the company must now focus on generating growth in those markets.
This has frustrated Vodafone's management and investors alike.
