UAE: e& hikes stake in Vodafone to 14%

The two entities carried out the stake hike process on 27 February 2023

Staff Writer, Mubasher

February 28, 2023

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E& increased its equity ownership in Vodafone Group to 3.79 billion shares, which represents 14% of the latter’s share capital, excluding treasury shares.

The two entities carried out the stake hike process on 27 February 2023, according to a bourse filing.

Earlier this month, the UAE-based firm raised its shareholding in Vodafone to 13% from 12%, excluding treasury shares.

On 14 May 2022, e& acquired a 9.80% stake in Vodafone in order to anchor its exposure to global markets and back possible commercial partnerships.

Last year, the ADX-listed company, formerly known as Etisalat Group, recorded net profits attributable to the equityholders worth AED 10 billion.

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