BY COMFORT OGBONNA
UAE-based telecommunications giant E& Group announced on Friday that it has reached an agreement to sell its entire stake in British telecom company Vodafone in a deal valued at approximately $5.95 billion. The buyer is a company owned by the family investment group of French telecommunications billionaire Xavier Niel, marking a significant ownership change in one of Europe’s largest mobile network operators.
Under the terms of the agreement, E& Group will sell its full 16.21% ownership in Vodafone at a price of 112.5 pence per share. The agreed sale price represents a notable premium over Vodafone’s most recent closing share price of 97.76 pence, reflecting the strategic value of the investment and the confidence of the acquiring company in Vodafone’s long-term prospects.
The transaction brings an end to E& Group’s role as Vodafone’s largest shareholder. Since building its stake, E& had maintained a strong strategic relationship with the British telecommunications company while supporting its long-term business objectives. However, with the completion of this sale, E& will no longer have any ownership interest in Vodafone.
The UAE telecom operator also confirmed that it will no longer have any influence over Vodafone’s corporate governance or management decisions. As part of the transition, E& stated that its representative on Vodafone’s board has resigned from the position of non-executive director, officially ending the company’s direct involvement in the telecom firm’s leadership.
The acquisition by the investment company linked to Xavier Niel’s family further strengthens the French entrepreneur’s presence in the European telecommunications sector. Niel has built a reputation as one of the industry’s most influential investors through a series of strategic investments in telecommunications companies across Europe.
For Vodafone, the ownership change represents another important development as the company continues to reshape its business and strengthen its position in key markets. The telecom operator has been pursuing initiatives aimed at improving operational performance, streamlining its portfolio, and enhancing shareholder value while investing in next-generation mobile and broadband networks.
The completion of the transaction remains subject to customary closing conditions. Once finalized, the deal will formally transfer E& Group’s entire shareholding to the new owner, closing an investment that has attracted considerable attention within the global telecommunications industry.
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