Vodacom sale rumour spurs Venfin value

Shares in South African investment firm Venfin shot up by more than two percentage points yesterday on the back of rumours that the company was planning to sell its 15% stake in mobile group Vodacom to fellow shareholder Vodafone of the UK. Vodafone currently holds 35% of Vodacom, whilst SA’s Telkom has a majority 50% investment. Vodafone and Venfin declined to comment on the speculation.