Abu Dhabi-listed telecoms and technology group e& has agreed to sell its entire 16.21% stake in Vodafone Group to Vega, an acquisition vehicle wholly owned by the French Niel family group, for approximately AED 21.8 billion, inclusive of Vodafone's final FY26 dividend.
The sale covers 3.94 billion Vodafone shares at 112.5 GB pence per share, with the shares to be initially transferred through off-market block trades to three financial institutions pending Vega's completion of regulatory requirements.
The transaction follows a strategic review by e&, which has simultaneously terminated its relationship agreement with Vodafone and withdrawn its board representation, signalling a clean break from the British operator. The deal is expected to generate a net cash return of approximately AED 4.7 billion, with proceeds expected to be redeployed into e&'s core technology and telecom growth agenda across its home markets and broader international portfolio.
Gulf Economist Staff Writer