Michel Combes, the European head of telecoms giant Vodafone, is no longer planning to join SFR, according to those familiar with the matter.
Combes is currently working out his notice after resigning from the company and replacements are reported to have been found.
The sources, according London South East, said that Combes's future at the company is now uncertain.
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Vodafone's share price fell 0.85% to 179.80p by 16:16.
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