Vodacom Group completes purchase of a further 17.2% indirect stake in Vodacom Tanzania

30 Apr 2014

South Africa-based pan-African mobile operator Vodacom Group – part of UK-based Vodafone Group – says it has completed the acquisition of an indirect 17.2% stake in its Vodacom Tanzania subsidiary, without conditions. In a filing yesterday, the company confirmed: ‘As all the conditions precedent to the transaction have been fulfilled, the transaction is now unconditional and closing is expected to take place today, 29 April 2014.’ The move comes in the wake of an announcement last November that the group is spending ZAR2.5 billion (USD236.1 million) to up its equity holding in the Tanzanian unit – its most successful international operation – from 65.0% to 82.2%, and hard on the heels of the announcement that Vodacom Tanzania has won a tender to provide telecoms services to rural and underserved areas of the country, as one of the so-called ‘Communications Service Providers’ (CSPs) being set up by the government. The CSP contract, as reported in yesterday’s CommsUpdate, covers the supply of telecoms services to 466 villages in 73 wards, covering approximately one million people.

Tanzania, Vodacom Group, Vodacom Tanzania, Vodafone Group