e& Increases Stake in Vodafone Group to 13%

Emirates Telecommunications Group Company (e& formerly Etisalat Group) has confirmed the acquisition of additional shares in the British telecoms giant, Vodafone Group. A stock market statement, e& indicated that the purchase of additional shares had been completed on February 03, 2023.

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Emirates Telecommunications Group’s stake in Vodafone Group is now increased to an aggregate of 3,537.7 million shares, representing 13.0% of Vodafone’s issued share capital (excluding treasury shares). e& reiterated the 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.

Also Read: e& Further Increases Its Stake in Vodafone Group

Attractive Valuation

Emirates Telecommunications Group described the buy as being at an “attractive valuation” in its earlier purchase. In January 2023, Emirates Telecommunications Group increased its stake in Vodafone Group to an aggregate of 3,272.3 million shares, representing 12.0% of Vodafone’s issued share capital. In December 2022, the telecom group raised its stake to 3,015.5 million shares, representing 11.0% of Vodafone’s issued share capital. The investment rationale is unchanged from e&’s announcement on the 14th of May 2022 as per Emirates Telecommunications Group’s stock market statement. Emirates Telecommunications Group termed the transactions to gain significant exposure to a world leader in connectivity and digital service at an attractive valuation.

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4iG Group completes Vodafone Hungary Takeover

A few days back, the 4iG Group announced the successful acquisition of Vodafone Hungary. As a result, 4iG acquired a 51 per cent controlling stake in Hungary’s second-largest telecom company, and Corvinus Nemzetkozi Befektetesi, a Hungarian State-owned company, acquired the other 49 per cent indirect stake.

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