Vodafone has sold its 45% stake in US telecoms company Verizon Wireless in one of the biggest deals in corporate history as it prepares to launch a multi-million plan to accelerate the introduction of 4G and faster broadband.

The overhaul, called Project Spring will also add to Vodafone's high street stores and develop mobile payment services as it ploughs £6 billion into investing in its future.
Elsewhere in telecoms, Microsoft is to buy Nokia’s mobile phone business in a £4.6 billion deal giving both companies more of a chance to compete in the mobile and tablet market.