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

Benzinga Real-time News ·  Dec 7, 2022 11:42
  • 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
Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment