British mobile phone giant Vodafone is set to sell its multi-billion-pound stake in French telecoms company SFR as part of a strategy to focus on core markets, a report said.

The Sunday Times said chief executive Vittorio Colao had decided to sell the French holding in a deal that could be worth £7 billion ($10.8 billion).

A Vodafone spokeswoman said it owned 44 per cent of SFR, but refused to comment on the reports of a sell-off.

Vodafone has sold its stake in China Mobile for £4.3bn, in the first of sell-offs of minority holdings.

However, the Times said Colao was holding back from any sale of the stake in Verizon Wireless in the US.