Vega to acquire nearly 19% of Vodafone through financial instruments

Corporate Action

โดย GlobeNewswire·Read original

Summary · why it matters

Vega announced that its counterparty banks will purchase e&'s entire Vodafone stake of 3.94 billion shares, representing 16.21% of Vodafone's share capital and 17.13% of its voting rights, at £1.104792 per share for hedging purposes, with settlement expected soon. Separately, Vega has entered into an additional financial instrument relating to an additional 2.74% of Vodafone's voting rights. Subject to regulatory approvals, the financial instruments are expected to physically settle, giving Vega approximately 18.80% of Vodafone's share capital and 19.87% of its voting rights, likely by year-end. Vega described its investment as a long-term, strategic minority shareholding and reiterated it does not intend to make an offer for Vodafone, remaining bound by Rule 2.8 of the City Code on Takeovers and Mergers.