The recent surge in Vodafone shares came to an end today after the mobile phone giant finally completed a landmark deal to exit the United States.
Shareholders will receive a £54 billion cash and shares windfall from the sale of the company's 45% share in Verizon Wireless, a deal which is the third largest transaction in corporate history.
But with shares already at their highest level since 2001, the stock lost some of its recent froth to stand 3.2p lower at 210p, a drop of around 1%.
The FTSE 100 Index was also subdued after its 1.5% improvement on Monday, although the top flight still added 9.1 points to 6515.3.
The excitement in the telecoms sector extended to BT, whose shares set another multi-year high on the back of Monday's upgrade from Goldman Sachs and increased confidence over future consolidation.
BT's shares were 6.45p higher at 344.65p, a rise of 2%, while broadband company TalkTalk was 8.15p higher at 256.15p at the top of the FTSE 250 Index.
In corporate updates, shares in leasehold pubs firm Punch Taverns rose 4% after it reported strong trading for the quarter to August 17 and said it would deliver profits in line with its expectations.