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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Business

Business

UAE’s e& becomes Vodafone’s largest shareholder.

Photo Credit: Reuters Photo Credit: Reuters
Photo Credit: Reuters Photo Credit: Reuters

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The telecoms company e& (EAND.AD), located in the United Arab Emirates, boosted its ownership in Vodafone to 14% while maintaining the same goal as when it purchased a 9.8% share in May 2022: to “improve and grow its worldwide portfolio.”

Since e& initially invested, Vodafone’s shares have dropped 15%.

The London-listed company has battled to improve its performance in three of its four largest European regions, leading to the chief executive’s resignation in December.

Liberty Global purchased a nearly 5% interest in Vodafone last month, calling it an opportunistic investment and promising not to seek a board seat or takeover.

Liberty Global CEO Mike Fries said Vodafone’s share price didn’t represent its value and consolidation potential.

In September, Xavier Niel purchased 2.5% of Vodafone.

In December, Read volunteered to assist Vodafone’s board with the strategy.

Vodafone shares increased 0.8% early Tuesday.

 

 

 

 


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