Vodafone Group sells its decades-old headquarters in England’s Newbury, Invest-Gate reports.

The company announces that it will rent more than half of the site’s premises.

Vodafone’s buildings are sold to IQON Capital on behalf of Aljazira Capital.

The telecom giant says that it is carrying out a downsizing and cost-cutting plan.

Job cuts are planned as the company seeks to improve operations and seal deals to consolidate in key markets, including the UK.