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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.
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