The largest ‘teleco’ in the United Arab Emirates reported this Saturday that it has acquired a 9.8% stake in Vodafone as part of its global expansion plans.

Emirati telecommunications company Etisalat offered about 130 pence ($1.59 or 1.53 euros) per share, implying a premium of around 10% to Vodafone’s closing price on Friday. In total, it disburses 4,400 m