Etisalat Ups Stake In Vodafone With No Intention To Make An Offer
Anusuya Lahiri 3 years ago
M&ANewsTechMedia
Emirates Telecommunications Group Co or Etisalat seeks a potential stake in Vodafone Group Plc's (NASDAQ: VOD) African business.
- Emirates Telecommunications Group Co or Etisalat seeks a potential stake in Vodafone Group Plc's (NASDAQ:VOD) African business.
- Etisalat studied the feasibility of an offer for part or all of Vodafone's stake in Vodacom Group Ltd (OTC:VDMCY), Bloomberg reports.
- Etisalat also considers combining some of its own African operations with Vodacom or buying Vodacom assets in specific countries.
- Vodafone owns roughly 60% of Vodacom.
- Etisalat now owns 11% of Vodafone. Meanwhile, Etisalat has no intention to make an offer for Vodafone.
- Also Read: Vodafone Ousts CEO Nick Read; Names CFO Margherita Della Valle As Interim Chief
- Price Action: VOD shares traded lower by 1.15% at $10.73 on the last check Wednesday.
- Photo Via Company