UAE-based Emirates Telecom buys 9.8% stake in Vodafone for $4.4 bn
- The Emirati-based multinational telecom services provider's expects the investment in the United Kingdom headquartered Vodafone to gain significant exposure to a world leader in connectivity and digital services.
Emirates Telecommunications Group Company PJSC “e&" (Etisalat Group) on Saturday announced the acquisition of approximately 2,766 million shares in Vodafone Group Plc aggregating to $4.4 billion. The shares represent 9.8% of Vodafone's issued share capital. The transaction is in line with e&’s ambition to be a global player in telecom and technology and to increase its exposure to international markets.
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