Vodafone Group completes placing of Vodacom shares

In line with previously announced plans, British telecoms giant Vodafone Group has confirmed that it has carried out a placing of ordinary shares in South Africa’s Vodacom Group to institutional investors by way of an accelerated bookbuild process. Confirming details of the transaction, Vodafone noted that its wholly owned subsidiary Vodafone International Holdings had sold an aggregate of 90 million ordinary shares in Vodacom at a price of ZAR165 (USD12.8) per ordinary share, raising gross proceeds of ZAR14.850 billion. Following the completion of the placing, Vodafone Group will hold a 64.5% stake in Vodacom, down from 65.0% previously.