Etisalat has acquired a 9.8% stake in Vodafone worth 4,220 million


Vodafone shares, listed on the London Stock Exchange, recorded a rise of 2.24% around 12 noon after the announcement of the acquisition by Etisalat of 9.8% of the British teleco for a value of 4,400 million dollars (4,220 million euros).

In a document published on the Abu Dhabi Stock Exchange, Etisalat has reported that it has acquired around 2,766 million shares of Vodafone.

The Emirati teleco has valued that this operation offers a “clear” opportunity to obtain value in the future through capital gains and dividends”. For its part, Vodafone has indicated that they hope to build a long-term relationship with Etisalat.

In this sense, the CEO of the Asian company, Hatem Dowidar, highlighted that Vodafone is “one of the leading companies” in the heart of digital communications in Europe and Africa with an “attractive” commercial offer and digital services.

In addition, Etisalat has confirmed that it “fully” supports Vodafone’s board of directors and its current management team, as well as its current business strategy announced in November 2021.

Likewise, he has clarified that he is not seeking representation on the board and trusts the company’s ability to “unlock the value of its organic commercial activity and other possible strategic transactions.”