e& to Sell Vodafone Stake in $5.95 Billion Deal
The sale marks e&'s exit from the British telecoms group as it refocuses on its core technology businesses.
UAE-based technology group e& has announced the sale of its entire 16.2% stake in Vodafone Group for approximately $5.95 billion, bringing to an end an investment that began in 2022.
The shares will be acquired by Vega, the investment vehicle of French entrepreneur Xavier Niel and his family, subject to regulatory approvals. Once the transaction is completed, Niel will become Vodafone's largest shareholder.
According to e&, the divestment reflects the company's strategy to sharpen its focus on its core businesses while unlocking capital for future growth opportunities. The company said proceeds from the sale will support continued investment across its digital and technology operations.
e& first acquired a 9.8% stake in Vodafone in 2022 before increasing its holding to 16.2% as part of a strategic relationship between the two companies.
The transaction comes as Vodafone continues to streamline its business around key markets, including the UK, Germany and Africa.
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