UAE-based telecoms giant e& has increased its stake in Vodafone Group to 14% of the company’s issued share capital, the company said on Tuesday.  

This is the second time this month e& has increased its stake in the British company, following earlier share hikes in May and December 2022, as well as January this year.

Abu Dhabi-listed e& now owns 3.79 billion shares in the company.

The company, which became Vodafone Group’s largest single shareholder last year, said its investment rationale, announced in May 2022, remains unchanged.

At the time of the May 2022 share hike, it said it was part of plans to diversify operations globally.

(Reporting by Imogen Lillywhite; editing by Cleofe Maceda)