French billionaire Xavier Niel has become the largest shareholder in Vodafone after his family investment vehicle Vega agreed to acquire an approximately 16.2% stake from UAE telecoms group E& for £4.4 billion. Niel is the founder and controlling shareholder of Iliad Group, which operates in France, Italy and Poland, and his family telecom investments span 26 countries. He described Vodafone as a compelling investment opportunity with quality assets and strong brands, well-placed for a new phase of growth. The move comes as Vodafone, under CEO Margherita Della Valle, focuses on its biggest markets in Germany, the UK and Africa, recently taking full ownership of the VodafoneThree UK joint venture in a £4.3 billion deal. Vodafone has ended its relationship with E& following the announcement, and E&'s board representative has resigned.
Vodafone Group PLCBillionaire Xavier Niel buys 16.2% stake, becoming largest shareholder, signaling confidence and providing capital.
Niel's investment in Vodafone reflects positively on Iliad as his telecom expertise is recognized.