UAE's e& increases stake in Vodafone Group
Vodafone Group
69.48p
15:25 26/04/24
0.70%
0.48p
UAE telecommunications company e&, formerly Etisalat, has upped its stake in London-listed Vodafone Group.
FTSE 100
8,141.02
15:25 26/04/24
n/a
n/a
FTSE 350
4,470.99
15:25 26/04/24
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FTSE All-Share
4,424.31
15:25 26/04/24
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Mobile Telecommunications
1,814.05
16:59 24/01/22
-0.51%
-9.36
E& now holds more than 3.272bn shares in Vodafone, which represents a 12% stake.
The additional shares were bought on Tuesday for an undisclosed sum.
E& said: "Executed at what we believe is an attractive valuation, the investment rationale is unchanged from our announcement on 14th of May 2022, specifically to obtain significant exposure to a global leader, and leverage potential commercial partnership and realise future return on our investment."