AEUAE-based telecommunications company e& has agreed to sell its entire 16.21% stake in Vodafone Group for $5.95 billion, marking the end of its investment in the British telecoms firm. This decision follows a strategic review of e&'s international investments and aims to allow the company to refocus on its core operations. The sale comes at a 13% premium to Vodafone's current market price and is expected to generate a net cash return of approximately $1.28 billion for e&. Previously, e& had acquired a 9.8% stake in Vodafone for $4.4 billion in May 2022, gradually increasing its ownership over time. The transaction involves selling the shares through off-market block trades to three financial institutions, which will hold them until Vega—a subsidiary of the Niel family—completes necessary regulatory steps.
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