UAE telecom giant buys 10 percent stake in Vodafone

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Al-Araby

The UAE’s state-controlled telecoms group has acquired a 9.8 percent stake in British mobile carrier Vodafone. The Emirates Telecommunications Group, which recently rebranded to e& from Etisalaat, purchased the stake for £3.3 billion and is now Vodafone’s biggest shareholder. #BREAKING UAE telecoms group ‘e&’ buys 9.8% stake in Vodafone#vodafoneidea #stock — Mukul Agrawal (@themukulagrawal) The investment has seen Vodafone shares jump by 4 percent. The Emirati company said it has no plans for a takeover bid and made the investment “to gain significant exposure to a world leader in connectivity…

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