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e& boosts stake in Vodafone Group to 11%

9 Dec 2022

UAE-based e& (formerly Etisalat Group) has announced that it has increased its stake in British telecoms giant Vodafone Group. In a press release regarding the development, e& confirmed that it now holds 11.0% of Vodafone Group’s issued share capital (excluding treasury shares). No financial details of the transaction that boosted the shareholding were disclosed, however. e& said its rationale for boosting its stake in Vodafone Group was unchanged from when it first announced making a strategic investment in the company, with that being ‘to gain significant exposure to a world leader in connectivity and digital service at an attractive valuation’.

As previously reported by TeleGeography’s CommsUpdate, in May 2022 e& announced that, via wholly owned subsidiary Atlas 2022 Holdings Limited, it had acquired 2.766 billion shares in Vodafone Group, representing 9.8% of the latter’s issued share capital (excluding treasury shares), at a cost of around USD4.4 billion.

United Kingdom, e& (formerly Etisalat Group), Vodafone Group

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