Emirates Telecom buys 9.8 per cent stake in Vodafone for $4.4 billion; gets indirect entry into Indian telecom market

Emirates Telecommunications Group Company PJSC “e&” (Etisalat Group) has acquired approximately 2,766 million shares in Vodafone Group Plc, aggregating $4.4 billion. The shares represent 9.8 per cent of Vodafone’s issued share capital. The transaction is in line with e&’s ambition to be a global player in telecom and technology, and to increase its exposure to international markets. The UAE-based telco Emirates Telecommunication Group’s 9.8 per cent stake purchase in Vodafone Group Plc will give the former an indirect entry into the Indian telecom market. Vodafone owns a 47 per cent stake in Vodafone Idea (Vi), and the current acquisition of around 10 per cent in Vodafone will give Etisalat an indirect stake of 4.67 per cent in the Indian telecom entity.

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