Home / Companies / News / UAE telecoms group e& buys 9.8% stake in Vodafone for $4.4 billion

UAE telecoms group e& buys 9.8% stake in Vodafone for $4.4 billion

The move comes days after e& said it was looking to expand into new markets in Africa, Europe and Asia and in areas outside telecoms such as financial technology as its seeks to drive growth

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2 min read Last Updated : May 14 2022 | 6:01 PM IST

Emirates Telecommunications Group Company PJSC, now known as e&, has acquired a 9.8% stake in Vodafone for $4.4 billion, it said on Saturday.

The move comes days after e& said it was looking to expand into new markets in Africa, Europe and Asia and in areas outside telecoms such as financial technology as its seeks to drive growth.

Vodafone, like all mobile operators, has been struggling in its more mature markets, where competition and regulation have pushed prices lower.

Net debt at the group has reached 44.3 billion euros ($46.1 billion), and its Chief Executive Nick Read is under pressure

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Topics : Vodafone telecom sectors

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