Emirates Telecommunications Group Company PJSC (e&) has announced a major strategic move, revealing the USD 5.95 billion sale of its substantial stake in Vodafone. This development marks a significant shift in e&’s approach to its international portfolio and will influence the global telecom landscape.
e& Finalizes $5.95 Billion Vodafone Share Divestment
After a thorough strategic review, e& has terminated its Relationship Agreement with Vodafone Group PLC. The exit includes the resignation of e&’s board representative from Vodafone’s board. In a binding agreement, e& will now sell its entire holding of nearly 3.95 billion ordinary Vodafone shares—about 16.21% of Vodafone’s issued share capital.
Details of the Strategic Transaction With Vega and Partners
The shares will be acquired by Vega, an entity owned by the Niel family group. The agreed consideration is 112.5 GBp per share, comprising cash and Vodafone’s final FY26 dividend. The shares will be sold in block trades to three financial institutions, which will hold them until Vega meets regulatory requirements. In total, e& expects gross cash proceeds of approximately AED 21.8 billion (USD 5.95 billion), with a net cash return of about AED 4.7 billion (USD 1.3 billion).
e&’s Future Vision and Ongoing Global Technology Initiatives
This sale allows e& to focus on its mission of advancing digital futures across its presence in 38 countries. The company continues to develop cloud platforms, data centers, and AI-powered solutions for enterprises and governments. For millions of consumers, e& aims to enrich experiences through world-class connectivity, fintech, entertainment, and super apps, keeping innovation at the forefront.
With this decisive exit from Vodafone, e& affirms its commitment to evolving as a global tech leader. This transaction optimizes their resources and supports ongoing innovation, signaling a new chapter in the company’s global expansion and technological ambition.
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