e& Increases Stake to 14% In Vodafone Group

Vodafone has announced to the London Stock Exchange that Etisalat's stake has increased from 13 percent to over 14 percent since the beginning of February.

Highlights

  • Etisalat increased 1% stake from its 13% earlier.
  • On February 21, 2023, Vodafone Group announced the completion of the sale of its 70% shareholding in Vodafone Ghana to Telecel Group.
  • Liberty Global Acquired 4.9% Stake in Vodafone Group.

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e& Increases Stake to 14% In Vodafone Group

Emirates Telecommunications Group Company (e& formerly Etisalat Group) has increased its stake in Vodafone Group to 14%. e&'s rationale for the investment was the same as when it paid USD 4.4 billion for a 9.8 per cent holding in May 2022. On Tuesday, Vodafone Group's Major Shareholder Notification showed Emirates Group's 14% holding stake. In a statement to the London Stock Exchange, Vodafone said Etisalat's stake had passed 14 percent, up from 13 percent.




Also Read: e& Increases Stake in Vodafone Group to 13%

Earlier this month, Liberty Global announced that it acquired 1,355 million shares in UK-based telecoms giant Vodafone Group, representing 4.92% of the outstanding share capital. Liberty Group considered the investment as opportunistic with an attractive valuation.

Also Read: 4iG Successfully Completes Vodafone Hungary Takeover

In recent months Vodafone has sold its Hungarian business for euros 1.7 billion to a state-controlled operation and its operation in Ghana for USD 900 million to Telecel. In September 2022, French telecom tycoon Xavier Niel acquired a 2.5% stake in Vodafone.

Also Read: Liberty Global Acquires 4.9% Stake in Vodafone Group

On February 21, 2023, Vodafone Group announced the completion of the sale of its 70% shareholding in Vodafone Ghana to Telecel Group.

The sale of Vodafone Ghana to Telecel Group is a further step toward simplifying Vodafone's African portfolio. Vodafone first entered the market in 2008. The transaction has received regulatory approval and agreement from the Government of Ghana, which will retain its 30% minority sharing in GTCL, according to Vodafone's statement. Global law firm Norton Rose Fulbright has advised Vodafone on the sale of its 70% shareholding in Ghana Telecommunications Company Limited.

Reported By

Aparna, from a journalism background, closely follows the developments in the telecom Industry.

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