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RNS Number : 5070J
Vodafone Group Plc
13 December 2022
13 December 2022
VODAFONE COMPLETES THE TRANSFER OF ITS 55% INTEREST IN VODAFONE
EGYPT TO VODACOM
Vodafone Group Plc(1) ("Vodafone") has completed the transfer of
its 55% shareholding in Vodafone Egypt to Vodacom Group Limited
("Vodacom"), its African subsidiary.
This transfer simplifies the management of Vodafone's African
assets. Vodacom gains exposure to another leading business in an
attractive market, diversifying its portfolio and accelerating its
growth profile. Vodafone Egypt will benefit from closer
co-operation with Vodacom, enabling it to accelerate growth in
financial services and the Internet of Things.
Vodafone has been issued with 242 million shares in Vodacom and
received cash proceeds of EUR577 million in exchange for its 55%
shareholding in Vodafone Egypt.
Margherita Della Valle, Vodafone Group Chief Executive designate
said: "With the completion of the transfer of Vodafone Group Plc's
shareholding in Vodafone Egypt to Vodacom Group Limited, we are
simplifying Vodafone Group's structure and supporting Vodacom and
Vodafone Egypt for future growth."
Following completion, Vodafone's shareholding in Vodacom has
increased from 60.5% to 65.1%.
- ends -
1. The selling entities were Vodafone Europe B.V. and Vodafone
International Holdings B.V., which are 100% owned indirect
subsidiaries of Vodafone Group Plc.
For more information, please contact:
Investor Relations Media Relations
Investors.vodafone.com Vodafone.com/media/contact
ir@vodafone.co.uk GroupMedia@vodafone.com
Registered Office: Vodafone House, The Connection, Newbury,
Berkshire RG14 2FN, England. Registered in England No. 1833679
About Vodafone
Unique in its scale as the largest pan-European and African
technology communications company, Vodafone transforms the way we
live and work through its innovation, technology, connectivity,
platforms, products and services.
Vodafone operates mobile and fixed networks in 21 countries, and
partners with mobile networks in 47 more. As of 30 September 2022,
we had over 300 million mobile customers, more than 28 million
fixed broadband customers, and 22 million TV customers. Vodafone is
a world leader in the Internet of Things (IoT), connecting more
than 150 million devices and platforms.
We have revolutionised fintech in Africa through M-Pesa, which
celebrates its 15(th) anniversary in 2022. It is the region's
largest fintech platform, providing access to financial services
for more than 50 million people in a secure, affordable and
convenient way.
Our purpose is to connect for a better future by using
technology to improve lives, digitalise critical sectors and enable
inclusive and sustainable digital societies.
We are committed to reducing our environmental impact to reach
net zero emissions across our full value chain by 2040, while
helping our customers reduce their own carbon emissions by 350
million tonnes by 2030. We are driving action to reduce device
waste and achieve our target to reuse, resell or recycle 100% of
our network waste.
We believe in the power of connectivity and digital services to
improve society and economies, partnering with governments to
digitalise healthcare, education and agriculture and create
cleaner, safer cities. Our products and services support the
digitalisation of businesses, particularly small and medium
enterprises (SMEs).
Our inclusion for all strategy seeks to ensure no-one is left
behind through access to connectivity, digital skills and creating
relevant products and services such as access to education,
healthcare and finance. We are also committed to developing a
diverse and inclusive workforce that reflects the customers and
societies we serve.
For more information, please visit www.vodafone.com , follow us
on Twitter at @VodafoneGroup or connect with us on LinkedIn at
www.linkedin.com/company/vodafone .
About Vodacom
Vodacom is a leading and purpose-led African connectivity,
digital and financial services company. From our roots in South
Africa, we have grown our business to include operations in
Tanzania, the Democratic Republic of the Congo (the DRC),
Mozambique, Lesotho and Kenya. Our mobile networks cover a
population of over 400 million people. Through Vodacom Business
Africa (VBA), we offer business-managed services to enterprises in
48 countries. Vodacom is majority owned by Vodafone (65.1%
holding), one of the world's largest communications companies by
revenue.
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