Vodacom shares are up nearly 3 percent as the mobile phone operator says first-half headline earnings likely rose by as much as 25 percent, helped by a strong performance its core business and a favourable tax change.

Basic earnings likely rose by as much as 40 percent in the six months to end-September, following the sale of its Gateway Carrier Services business in August.

Vodacom is due to release its results on November 12.

Its shares are 2.7 percent higher at 106.40 rand, outperforming at 0.66 percent rise by the Top-40 index. - Reuters