Abu Dhabi group set for $1.3 billion net cash return from Vodafone stake sale.
Dubai: UAE telecoms group e& is selling its entire stake in Vodafone Group for $5.95 billion, ending one of its biggest international investments as part of a broader review of its global portfolio.
The Abu Dhabi-listed company said it has signed a binding agreement with Vega, an acquisition vehicle fully owned by the Niel family group, to sell nearly 3.95 billion Vodafone shares.
The stake represents approximately 16.21% of Vodafone’s issued share capital and 17.13% of its voting rights.
The transaction values the shares at 112.5 pence each, made up of around 110.5 pence in cash from the buyer and Vodafone’s final financial year 2026 dividend of 2.02 pence per share.
The dividend payment is scheduled for July 30.Deal expected to generate Dh21.8 billion
The transaction is expected to deliver cash proceeds of around Dh21.8 billion, equivalent to $5.95 billion, including Vodafone’s final dividend payment.
e& expects to realise a net cash return of approximately Dh4.7 billion, or $1.3 billion, from the sale.
The shares will initially be transferred through off-market block trades to three financial institutions, which will hold the stake until Vega completes the necessary regulatory procedures.
Board representative steps down
e& has also ended its relationship agreement with Vodafone, while its representative on the British telecoms company’s board has resigned from the role of non-executive director.
The sale follows a comprehensive review of e&’s international investment portfolio and marks the telecom group’s complete exit from Vodafone.
