More Africa Newse& Ups to 14.6% Ownership of Vodafone; Pushes for Board Changes

April 27, 2023by myles0

e&, who are Vodafone’s biggest shareholders have reportedly opened talks to push for some changes on their board. The Abu-Dhabi-based, e& now owns 14.6% of Vodafone up from 14%.

UAE-based telecoms operator, e&, has increased its stake in Vodafone to 14%, as part of its strategy to develop opportunities for commercial partnerships. The state-controlled company, formerly known as Etisalat, initially acquired a 9.8% stake in Vodafone in May 2022, which it increased to 11% later that year. e& then increased its stake in Vodafone to 12% in January 2023, citing the potential for a commercial partnership and future returns on investment.

The latest transaction sees e& acquiring an additional 2% stake in Vodafone, giving the Abu Dhabi-based technology group control of 3.8 billion shares in Vodafone, and pushing it ahead of other investors, including BlackRock, the Vanguard Group, and HSBC Holdings. e& has stated that its investment rationale remains unchanged from the initial deal, and that it intends to remain a long-term investor. It has also clarified that it has no intention of making an offer for the rest of Vodafone.

This move by e& highlights its continued interest in Vodafone and its strategy of expanding its presence in the global telecoms market. As a long-term investor, e& is likely to seek opportunities for commercial partnerships with Vodafone, which could benefit both companies. Investors will be watching closely to see how this relationship develops, and whether e&’s increased stake will have any impact on Vodafone’s operations or strategy in the future.

Source: Tech Africa News

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