UAE’s e& buys 9.8% stake in Vodafone for $4.4bln

UAE’s e& buys 9.8% stake in Vodafone for $4.4bln

e&’s (Emirates Telecommunications Group Company) has acquired approximately 2,766 million shares in Vodafone, representing 9.8% of Vodafone’s issued share capital for $4.4 billion. 

e& invested in Vodafone to gain significant exposure to a world leader in connectivity and digital services. 

“Vodafone is one of the leading businesses at the heart of digital communications in Europe and Africa with a compelling business offering critical connectivity and digital services. Our investment represents a unique opportunity to acquire a significant stake in one of the leading and strongest global telecom brands, and a company that we know well.” Hatem Dowidar, Group CEO of e&, said.

The transaction is aligned with e&’s ambition to be a global player in telecom and technology and to increase its exposure to international markets. 

“We are looking forward to building a mutually beneficial strategic partnership with Vodafone with the goal of driving value creation for both our businesses, exploring opportunities in the rapidly developing global telecom market and supporting the adoption of next-generation technologies,” Dowidar added.

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