Vodafone Group recently announced that it has agreed to transfer its 55% shareholding in Vodafone Egypt to Vodacom Group, its sub-Saharan African subsidiary.
This transfer simplifies the management of Vodafone’s African holdings and further strengthens the delivery of connectivity and financial services in Africa.
The transaction is expected to generate clear benefits for Vodafone, Vodacom and Vodafone Egypt;
- Vodafone simplifies the management of its African holdings;
- Vodacom gains exposure to another leading business in an attractive market, diversifying its portfolio and accelerating its growth profile; and
- Vodafone Egypt will benefit from closer co-operation with Vodacom, enabling it to accelerate growth in financial services and IoT.
The transaction values Vodafone’s 55% shareholding in Vodafone Egypt at €2,722 million on a debt free, cash free basis.
