e& announces the sale of its Vodafone stake for US$5.95 billion

▤ Summary

e& announced that it will sell its entire Vodafone stake to Vega after ending its strategic cooperation agreement with Vodafone. The transaction covers about 16.21% of Vodafone’s issued share capital and is valued at 112.5 GBp per share. e& expects to receive about AED 21.8 billion, or $5.95 billion, in gross proceeds once the shares transfer to the financial institutions holding them during regulatory approval. The company says the deal will generate net cash proceeds of about AED 4.7 billion, or $1.3 billion. e& also describes itself as a global technology group that provides sovereign cloud, data center, AI, connectivity, fintech, and super-app services.

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