E& OFFICIALLY COMPLETES $5.95BN SALE OF VODAFONE STAKE

Abu Dhabi-based telecoms group e& has officially confirmed the completion of the sale of its 16.2 per cent stake in Vodafone, generating $5.95bn (Dhs21.9bn) in proceeds and a net cash return of around $1.3bn (Dhs4.8bn).

The announcement follows a previous disclosure that e& had signed a binding agreement to sell its 3.94 billion Vodafone shares to Vega, an acquisition vehicle wholly owned by the Niel family group. Friday’s update confirms the transaction has now been completed.

The company received Dhs21.5bn ($5.84bn) in immediate cash proceeds from the sale, with a further Dhs400m ($110m) related to Vodafone’s 2026 final dividend due to be paid on July 30, taking the total consideration to Dhs21.9bn ($5.95bn).

Vodafone is a UK-headquartered telecommunications company and one of the world’s largest mobile network operators, serving more than 340 million customers across Europe and Africa.

“The successful completion of this transaction reflects the natural evolution of e&’s strategic priorities, enabling the Group to sharpen its strategic focus on its core businesses while unlocking the value created through its investments,” the company said in a statement on Friday.

The Vodafone disposal is among the first major strategic portfolio moves since Masood M. Sharif Mahmood succeeded Hatem Dowidar as e&’s Group CEO on April 1, 2026.

The sale also follows another significant divestment announced last month, when e& agreed to sell a 12.5 per cent stake in Careem to Uber Technologies for $100m in cash. While reducing its shareholding, e& said it would retain a significant interest in the ride-hailing and super app platform.

e& first invested in Vodafone in 2022 before steadily increasing its holding to become the UK telecoms company’s largest shareholder. At the time of the sale, the stake represented 16.2 per cent of Vodafone’s issued share capital, equivalent to 3.94 billion ordinary shares.

The buyer, Vega, is an acquisition vehicle wholly owned by the investment group of French billionaire Xavier Niel.

2026-07-18T04:42:08Z