e& Completes Strategic Review and Sells Vodafone Investment for $5.95 Billion

e& Sells Vodafone Stake: A Strategic Move

Emirates Telecommunications Group Company PJSC, commonly referred to as e&, has made a significant strategic decision as it divests its investment in Vodafone Group PLC. After an extensive review of its international portfolio, e& has officially terminated its collaborative agreement with Vodafone, resulting in the resignation of its representative from Vodafone's board.

This transaction involves e& selling its substantial stake of approximately 3.94 billion ordinary shares in Vodafone, which corresponds to around 16.21% of Vodafone's issued share capital and 17.13% of the voting rights. The shares will be sold at a price of 112.5 pence per share, ensuring that e& receives both cash contributions and dividends from Vodafone.

Notably, this price per share comprises about 110.5 pence per share in cash from the buyer, in addition to a final dividend from Vodafone for the fiscal year 2026, which amounts to 2.02 pence per share and is set for distribution on July 30, 2026.

The shares will be traded via block trades conducted off the market, with three financial institutions serving as custodians until Vega, the wholly-owned acquisition company of the Niel family that e& has contracted with, meets regulatory requirements. Upon completion of this share transfer, the cash inflow to e& is expected to be substantial, with estimates suggesting approximately 21.8 billion AED (around $5.95 billion), inclusive of the dividend declared for FY2026. This significant transaction is also predicted to yield a net cash return of about 4.7 billion AED (approximately $1.3 billion).

About e&

Founded in Abu Dhabi in 1976, e& has evolved into a global technology group committed to advancing the future of digital connectivity across 38 countries spanning the Middle East, Asia, Africa, and Europe. With over five decades of experience in advanced connectivity, e& leverages its expertise to deliver comprehensive digital solutions that provide substantial value and drive progress across various sectors.

The group delivers critical infrastructure for businesses and governments, including sovereign cloud platforms, data centers, and AI-based solutions tailored to tackle complex challenges and catalyze growth. For general consumers, e& offers globally leading connectivity along with digital services in entertainment, financial technologies, and super applications designed to enhance everyday living experiences.

Driven by innovation and fortified by strategic alliances, e& continuously acclaims itself as a secure, high-performance technology provider that bolsters economies and expands opportunities on a worldwide scale. To discover more about e&, visit eand.com.

As the telecommunications landscape evolves, e& demonstrates its readiness to navigate these changes efficiently while securing lucrative capital from its ventures, like the recent sale to Vega. This development not only underscores e&’s focused financial strategies but also reflects its commitment to maintaining a dynamic and adaptive investment portfolio.

Conclusion

In a world where financial agility and strategic foresight dictate the pace of success, e& is setting an exemplary benchmark by divesting its investment in Vodafone while securing substantial financial resources for future initiatives. The sale marks a critical pivot in e&'s investment strategy, reinforcing its position as a forward-thinking leader in the telecommunications sector.