Emirates Telecommunications Group (e&), the dominant telecom operator in the United Arab Emirates, has sold its entire stake in Vodafone Group Plc. The transaction, valued at approximately $6 billion, transfers ownership to French billionaire Xavier Niel, who now reportedly becomes Vodafone's largest shareholder.
e& had initially acquired a 9.8% stake in Vodafone for $4.4 billion in May 2022 bloomberg.com. This recent sale by e& to Niel marks a significant shift in Vodafone's shareholder structure and potentially its future strategic direction.
