e& turns its Vodafone stake into a $5.95 billion deal

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e& Vodafone stake sale has been completed, generating total proceeds of US$5.95 billion as the UAE telecom group sharpens its focus on core businesses.

ABU DHABI: e& Vodafone stake sale has been successfully completed after the UAE-based technology and telecommunications group finalised the transfer of its entire shareholding in Vodafone Group PLC, unlocking total proceeds of approximately AED21.9 billion (US$5.95 billion).

The transaction follows the binding agreement announced on July 10 2026 with Vega, an acquisition vehicle wholly owned by the Niel family group. As part of the completion process, e& transferred its 3.94 billion ordinary Vodafone shares to BNPP Financial Markets, Crédit Agricole Corporate and Investment Bank, and Société Générale.

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The completed share transfer generated gross cash proceeds of AED21.5 billion (US$5.84 billion), representing around 110.5 GBX per share. In addition, e& is expected to receive Vodafone’s FY2026 final dividend of 2.02 GBX per share on 30 July 2026, adding approximately AED0.4 billion (US$110 million). This will increase the total value of the transaction to AED21.9 billion (US$5.95 billion).

The company said the sale is expected to generate a net cash return of AED4.8 billion (US$1.3 billion), strengthening its financial position while providing greater flexibility for future investments and business expansion.

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The e& Vodafone stake sale marks another step in the group’s strategy to focus on its core telecommunications, digital and technology businesses. The company said the transaction reflects the natural evolution of its investment priorities, allowing it to unlock value created through its holdings while directing capital towards long-term growth opportunities.

Over recent years, e& has expanded beyond traditional telecom services into digital infrastructure, fintech, enterprise solutions, artificial intelligence and international technology investments. The proceeds from the Vodafone transaction are expected to support these strategic ambitions as the group continues to diversify its global portfolio.

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The announcement also underlines e&’s disciplined approach to capital allocation, balancing shareholder returns with investments in high-growth sectors. By monetising its Vodafone investment, the company aims to strengthen its competitive position while maintaining financial resilience.

The e& Vodafone stake sale is one of the largest recent transactions involving a UAE-listed telecommunications company and reflects the group’s continued transformation into a global technology and investment powerhouse.

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