Vodacom to be listed in May

4 Mar 2009

South African cellular operator Vodacom says it will be listed on the Johannesburg Stock Exchange on 5 May as current 50% shareholder Telkom South Africa distributes a 35% stake to its own shareholders. The other 15% is being sold to Telkom’s partner in the venture, Vodafone of the UK, taking Vodafone’s stake to 65%. The transactions still have to be approved by Telkom shareholders, with a general meeting scheduled for 26 March.

South Africa, Vodacom Group