/PRNewswire/ — Following an in-depth strategic review of its international investment portfolio, Emirates Telecommunications Group Company PJSC (“e&”) has announced the termination of its relationship agreement with Vodafone Group PLC (“Vodafone”). In this context, the representative of the board of directors of e& resigned from his position as non-executive director of Vodafone.
e&
Following the termination of the contract governing the relationship, e& has signed a binding agreement with Vega, an acquisition vehicle owned exclusively by the Niel family group, to divest its entire interest of 3,944,743,685 ordinary shares of Vodafone, representing approximately 16.21% of the issued share capital of Vodafone and 17.13% of its total voting rights, for a total amount of 112.5 GBP per share. This amount includes approximately GBP 110.5 per share in cash paid by the acquirer, as well as Vodafone’s final dividend for the financial year 2026 (amounting to GBP 2.02 per share, which will be paid on 30 July 2026).
The shares will be sold simultaneously in off-market block transactions to three financial institutions, which will hold them until Vega has complied with regulatory requirements.
Once the transfer of shares to the financial institutions is completed, the transaction will generate cash proceeds for e& of approximately AED 21.8 billion (USD 5.95 billion), including the final dividend for financial year 2026. This transaction is expected to generate a net cash flow of approximately AED 4.7 billion (USD 1.3 billion).
About e&
e& (ADX: EAND) is a global technology group committed to advancing the digital future across 38 countries across the Middle East, Asia, Africa and Europe. Founded in Abu Dhabi in 1976, e& draws on five decades of experience in cutting-edge connectivity technologies to deliver powerful digital solutions that create value and drive progress.
For businesses and governments, e& provides mission-critical infrastructure, including sovereign cloud platforms, data centers and AI-enabled solutions, to solve complex challenges and accelerate growth. For millions of customers, the group offers leading connectivity and digital services in entertainment, fintech and super apps that enrich everyday life.
Driven by innovation and strengthened by global partnerships, e& delivers secure, high-performance technologies that strengthen economies and broaden opportunities globally.
For more information about e&, visit eand.com.
Contact:
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