Vodafone increases Vodacom stake

07 March 2023

Vodafone Group Plc now owns 65.1% of Vodacom Group Ltd’s capital, up from 60.5% previously. Vodacom issued 241.9 million new shares to Vodafone for the acquisition of 55% in Vodafone Egypt.

Vodacom Group issued the 241.9 million shares at a unit price of R135.75 to finance 80% of the cost of acquiring the stake. The remaining 20% was taken from the company’s cash.

It was in November 2021 that Vodafone first announced its intention to transfer its shares in Vodafone Egypt to Vodacom Group. The transaction obtained the approval of the minority shareholders of Vodacom Group in January 2022 and was finalized in December.