08 Aug Kenya: Vodacom finalises R35-billion acquisition deal
Vodacom has finalised its R35-billion acquisition of an effective 35% stake in Safaricom.
Safaricom is Kenya’s leading integrated communications company, and this transaction is the largest in Vodacom’s history.
All regulatory approvals in both Kenya and South Africa have been met and shareholders approved the acquisition last month.
The allotment and issue of 233,459,781 new ordinary shares to Vodafone took effect today, as well as the listing of these shares on the JSE.
Commenting on the conclusion of the transaction, Vodacom Group Chief Financial Officer Till Streichert said the acquisition will provide both businesses with opportunities for growth.
“We expect this transformational transaction will enhance our position as a leading African mobile communications company,” he said.
Source: My Broadband