Vodafone confident of Vodacom success

1 Sep 2008

The UK-based international mobile operator Vodafone says it is confident that it will succeed in its bid to increase its stake in South African subsidiary Vodacom despite new interest from rival firms. A report last week suggested Globacom of Nigeria was seeking to acquire the 50% stake in Vodacom held by Telkom South Africa. Vodafone, meanwhile, is hoping to buy 12.5% of Telkom’s interest to add to its own 50% stake. A report from The Financial Times quotes a Vodafone spokesperson who says: ‘Our discussions with Telkom are progressing well.’ Telkom has confirmed that it has received new expressions of interest in its Vodacom stake from unnamed buyers though says discussions are not taking place.

South Africa, Telkom South Africa, Vodacom Group, Vodafone Group