UAE telecoms operator e& raises stake in Vodafone Group to 13%
- Date: 03-Feb-2023
- Source: Zawya
- Sector:Financial Markets
- Country:UAE
UAE telecoms operator e& raises stake in Vodafone Group to 13%
The UAE telecoms operator e&, formerly known as Etisalat, has increased its stake in British mobile phone company Vodafone Group, in line with its plans to diversify operations globally.
The telecoms group now holds more than 3.537 billion shares in Vodafone, more than previously announced, and representing 13% of Vodafone's issued share capital, excluding treasury shares, e& said in a regulatory filing on the Abu Dhabi Securities Exchange (ADX) on Friday.
Last May, e& became Vodafone’s biggest shareholder after acquiring a 9.8% stake in the company for $4.4 billion. The state-backed firm e& further increased its stake to 11% in December 2022 and January this year.
(Writing by Brinda Darasha; editing by Cleofe Maceda)
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© ZAWYA 2022
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