Business
VODAFONE COMPLETES EGYPT TRANSFER TO VODACOM
VODAFONE COMPLETES EGYPT TRANSFER TO VODACOM.
About this update from Vodafone Group Public Limited Company
[{"type":"text","content":"\n \n \n 13 December 2022\n \n \n \n \n \n \n VODAFONE COMPLETES THE TRANSFER OF ITS 55% INTEREST IN VODAFONE EGYPT TO VODACOM\n \n \n \n \n \n \n Vodafone Group Plc1 (\"Vodafone\") has completed the transfer of its 55% shareholding in Vodafone Egypt to Vodacom Group Limited (\"Vodacom\"), its African subsidiary.\n \n \n \n \n \n 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.\n \n \n \n \n \n Vodafone has been issued with 242 million shares in Vodacom and received cash proceeds of €577 million in exchange for its 55% shareholding in Vodafone Egypt.\n \n \n \n \n \n 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.\"\n \n \n \n \n \n Following completion, Vodafone's shareholding in Vodacom has increased from 60.5% to 65.1%.\n \n \n \n \n \n \n \n \n - ends -\n \n \n \n \n \n 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.\n \n \n \n \n \n \n \n \n \n For more information, please contact:\n \n \n \n \n Investor Relations Media Relations\n \n \n \n Investors.vodafone.com\n Vodafone.com/media/contact\n \n \n [email protected]\n [email protected]\n \n \n Registered Office: Vodafone House, The Connection, Newbury, Berkshire RG14 2FN, England. Registered in England No. 1833679\n \n \n \n \n \n \n \n \n About Vodafone\n \n \n \n \n \n \n Unique in its scale as t...