Emirates Telecommunications Acquires 9.8% Stake In Vodafone For $4.4 Bln

Emirates Telecommunications Group Company PJSC, now known as "e&", said Saturday that it has acquired a 9.8% stake in Vodafone for $4.4 billion.

E& said it has made the investment in Vodafone to gain significant exposure to a world leader in connectivity and digital services.

e& noted that it has no intention to make an offer for Vodafone. It is fully supportive of Vodafone's Board and existing management team and its current business strategy announced in November 2021. It is not seeking to exert control or influence Vodafone's Board or management team.

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