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Etisalat Ups Stake In Vodafone With No Intention To Make An Offer

Author: Anusuya Lahiri | December 07, 2022 12:38pm

Emirates Telecommunications Group Co or Etisalat seeks a potential stake in Vodafone Group Plc's (NASDAQ:VOD) African business.
Etisalat studied the feasibility of an offer for part or all of Vodafone's stake in Vodacom Group Ltd (OTC:VDMCY), Bloomberg reports.
Etisalat also considers combining some of its own African operations with Vodacom or buying Vodacom assets in specific countries.
Vodafone owns roughly 60% of Vodacom.
Etisalat now owns 11% of Vodafone. Meanwhile, Etisalat has no intention to make an offer for Vodafone.
Also Read: Vodafone Ousts CEO Nick Read; Names CFO Margherita Della Valle As Interim Chief
Price Action: VOD shares traded lower by 1.15% at $10.73 on the last check Wednesday.
Photo Via Company

Posted In: ICAP VDMCY VOD