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UAE's e& to Exit Vodafone Stake in $6 Billion Sale

MT Newswires·07/10/2026 01:07:14
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01:07 AM EDT, 07/10/2026 (MT Newswires) -- Emirates Telecommunications Group Co. (ADX:EAND), d/b/a e&, agreed to sell its entire 16.21% stake in Vodafone Group (VOD.L) for $5.95 billion. The Emirati telecommunications company said Friday the exit from its British peer follows a strategic review of its international investment portfolio. The stake is being sold to the Niel family group's Vega acquisition vehicle. E& will sell 3,944,743,685 Vodafone shares at 1.125 pounds sterling apiece. The consideration comprises 1.105 pounds in cash and a dividend of 0.0202 pound per share scheduled for payment on July 30. The sale remains subject to customary closing conditions, with completion expected in the near future.