possessed Emirates Telecom Group (&e) holds a 9.8% stake in “Vodafone” At a cost of approximately $4.4 billion, the Emirati company is the largest shareholder in British Telecom.
The group said it aims to “leverage on the expertise of the global leader in communications and digital services.” Hatem Dowidar, Group CEO, added: “We consider this investment an important opportunity for (&e) and its shareholders, as it will allow us to strengthen and develop our international portfolio in line with our strategic ambition.”
According to a statement by “Etisalat Group”, on May 13, 2022, it acquired approximately 2,766 million shares in “Vodafone”. Vodafone’s stock closed on Friday at 117.82 pence sterling, which means that the UAE company offered about 130 pence ($1.59) per share, a 10% premium over the closing price, according to Al Sharq’s calculations. This means that Etisalat Group will be the largest shareholder in Vodafone.
Vodafone is a pioneer in digital transformation, providing some of the most advanced technologies and next-generation solutions, including Internet of Things, Information Technology, Enterprise Solutions and FinTech services, according to the statement.