Vodafone has sold its 25% stake in Belgian mobile operator Proximus to majority shareholder Belgacom.

Vodafone said it had signed a deal with Proximus to guarantee access to Vodafone services for the next five years. The sale nets Vodafone £1.4bn to help reduce its debt.

This is the latest international exit for Vodafone which has previously sold its Swedish and Japanese operations, but resisted investor pressure to sell its 45% stake in US operator Verizon.

“We have enjoyed a long and successful relationship with Belgacom, and together have built the leading mobile operator in Belgium. We do not, however, see ourselves as the most appropriate long-term holder of this minority stake,” CEO Arun Sarin said in a statement.