Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Vodacom Group Ltd said on Monday the UK telecommunications company Vodafone Group PLC now owns 65.1% in South African mobile carrier.
Vodacom said it had issued 241.9 million new shares to Vodafone as part of Vodacom’s acquisition of a 55% interest in Vodafone Egypt Telecommunications SAE.
In December, Vodacom completed the acquisition of 55% stake in Vodafone Egypt from the Berkshire, England-based telecommunications company Vodafone for around R 42.64 billion in cash and shares.
Vodacom settled this acquisition through the issuance of 241.9 million new shares and cash proceeds of £577 million, or R 10.81 billion. Each new share is worth R 135.75.
In Johannesburg, shares in Vodacom were up 0.1% at R 122.65 on Monday.
Following the deal, Vodafone’s shareholding in Vodacom Group has increased from 60.5% to 65.1%.
Vodacom said on Monday it will filed the required notices with the Takeover Regulation Panel.
Copyright 2023 Alliance News Ltd. All Rights Reserved.