Skip to content Skip to Search
Skip navigation

UAE telco increases stake in UK’s Vodafone to 12%

Vodafone is among the leading tech companies opening offices in Egypt Vodafone
e& said that the rationale remains unchanged from May 2022 when it purchased a 9.8% stake in Vodafone Group

UAE telecom operator e&, formerly Emirates Telecommunications Group Company, has increased its stake in the UK’s Vodafone Group.

In a statement published on the Abu Dhabi Securities Exchange, the telco said it had purchased a total of 3.272 billion shares, representing 12 percent of Vodafone’s issued share capital, excluding treasury shares.

The financial details of the deal were not disclosed.

“Executed at what we believe is an attractive valuation, the investment rationale is unchanged from our announcement on May 14, 2022,” the statement said.

The move was to obtain significant exposure to a global leader, leverage potential commercial partnership and realise future return on its investment, it added.

In May last year, e& acquired a 9.8 percent stake in Vodafone for $4.4 billion, days after it announced plans to expand into new markets in Africa, Europe and Asia.

The telecom firm had said it had no intention of making an offer to buy Vodafone, saying it fully supports the company’s current business strategy and its board and existing management team.

Latest articles

Over the first half of the year Sanad Group signed deals with international airlines including Asiana Airlines and Deucalion Aviation

Mubadala-backed Sanad Group reports 53% revenue growth

Sanad Group, the Abu Dhabi-based global aerospace engineering and leasing company, has seen revenues increase by more than half over the first six months of the year. Figures released to AGBI show revenue totalling AED2.3 billion ($620 million) was reported in the first half of the year, up from AED1.5 billion over the same period […]

Malaysia’s HSS Engineers Berhad and its emirati consultancy HSS signed the deal top oversee construction with the Baghdad municipality

UAE company in joint venture to build Baghdad metro

A Malaysian engineering company and its UAE affiliate have jointly won a $316 million contract to oversee the construction of the new Baghdad metro. The building of the planned 148-kilometre network and its 64 stations across the Iraqi capital was slated to begin this month and end in 2029. This timeline might be delayed, however, […]

Amanat's listing represents the third education IPO in the UAE over the past two years

Amanat to list its education platform

Amanat Holding, an investment company in Dubai, has announced plans to list its education platform. The move will be the third education-related initial public offering in the UAE in the last two years, following the listing of Dubai’s Taaleem in 2022 and Abu Dhabi’s Alef Education earlier this year. Amanat, which specialises in healthcare and […]