The United Arab Emirates has sold its stake in Vodafone to French telecoms tycoon Xavier Niel in a £4.4 billion deal, ending an investment that had triggered UK national security concerns. Abu Dhabi-based E& sold its more than 16 percent stake to Mr Niel's newly formed family holding group Vega, making him Vodafone's largest shareholder. E& chief executive Hatem Dowidar has stepped down from Vodafone's board with immediate effect, and E& will make a net cash return of £970 million from the sale. The UAE's stake had been declared a national security risk by UK ministers in 2024, leading to the establishment of a special committee to oversee sensitive work. Vodafone shares jumped as much as 13 percent following the announcement.
Vodafone Group PLCVodafone shares jumped up to 13% on news of the stake sale to Xavier Niel, removing national security overhang and bringing a new large shareholder.