Activist Investor Cevian Is Said to Build Stake in Vodafone (2)

Activist investor Cevian Capital AB has built a stake in British telecommunications giant Vodafone Group Plc, people familiar with the matter said.

The Swedish investment firm has been in talks with Vodafone officials in recent months as it pushes the carrier to improve performance, the people said, asking not to be identified because the information is private.

Options to boost value at Vodafone could include consolidating its presence in key markets, selling some operations or pursuing stock buybacks, the people said. Representatives for Cevian and Vodafone declined to comment.

Vodafone shares gained 1.2% in London trading Friday, giving it ...