Fri. Mar 29th, 2024

[ad_1]

Etisalat – recently renamed ‘e&’ – is extending its influence in the African telecoms market. The state-controlled Emirati group has just acquired a 9.8% stake in the British group Vodafone, headed by Nick Read. The transaction, valued at $4.4bn, makes Etisalat the main shareholder of one of the leaders in European and – indirectly –  pan-African telecoms. Vodafone controls 60.5% of Vodacom, its pan-African subsidiary that operates in nine markets across the continent.

Avoiding regulatory constraints

In a statement released to the press, e& ruled out a gradual increase in the British company’s capital, saying it wanted to remain “a long-term shareholder in Vodafone and not seek to control or influence either the board or management team”.

[ad_2]

Source link

By Joy

Leave a Reply

Your email address will not be published. Required fields are marked *