Vodafone and e& terminate relationship agreement

Corporate Action
โดย RTTNews·Read original
Summary · why it matters

Vodafone Group and Emirates Telecommunications Group Company, known as e&, have terminated their relationship agreement dated 11 May 2023. e& has signed a binding agreement with Vega, an acquisition vehicle wholly owned by the Niel family group, to sell its entire stake of 3,944,743,685 ordinary shares in Vodafone, representing around 16.21% of Vodafone's share capital and 17.13% of its total voting rights, for a total consideration of 112.5 pence per share. The consideration comprises approximately 110.5 pence in cash and a final dividend of 2.02 pence per share. Hatem Dowidar, who was appointed to Vodafone's board as e&'s nominee director, has resigned with immediate effect. Vodafone shares last closed at 97.76 pence, down 0.22%.

Impact on stocks 2

Cloud & Digital Infrastructure▼ · 1 stocks
Vodafone Group PLC
VOD
▼ NegativeCapitalrelevance

Major shareholder e& sells its entire 16.21% stake at 112.5p, causing uncertainty and downward pressure on shares.

Consumer Discretionary▲ · 1 stocks
Vega corporation Co., Ltd.
3542
▲ PositiveCapitalrelevance

Vega, the acquisition vehicle, acquires a large stake in Vodafone, representing a strategic investment.

Off-coverage companies 2

Niel family groupPrivate▲ Positive
Capitalrelevance

Niel family group, through Vega, acquires a major stake in Vodafone, expanding their telecom holdings.

Emirates Telecommunications GroupPrivate± Mixed
relevance

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