Telecom major e& has officially concluded the sale of its complete stake in Vodafone Group, unlocking a total value of Dh21.9 billion ($5.95 billion).
As part of the transaction, e& transferred a total of 3,944,743,685 Vodafone shares to three major financial institutions: BNP Paribas Financial Markets, Crédit Agricole Corporate and Investment Bank, and Société Générale.
Financial Breakdown of the Deal
- Initial Cash Proceeds: The share transfer initially yielded gross cash proceeds of Dh21.5 billion ($5.84 billion), priced at approximately 110.5 pence per share.
- Upcoming Dividend Payout: On July 30, e& is scheduled to collect an additional 2.02 pence per share, tied to Vodafone’s final dividend for the 2026 financial year. This final payout is valued at Dh400 million ($110 million), bringing the total transaction value to the final Dh21.9 billion mark.
- Net Return: Overall, the divestment has generated a net cash return of Dh4.8 billion ($1.3 billion) for the UAE-based group.
According to e&, this exit aligns with the natural progression of its strategic goals. The move enables the company to redirect its resources and sharpen its focus on its core business operations, while successfully capitalizing on the value generated by its investment in Vodafone.
The divestment process originally commenced on July 10, following a binding agreement with Vega, an acquisition vehicle entirely owned by the Niel family group.