Vodacom said to be mulling sale of R15bn BEE stake
Vodacom is considering the sale of a R15bn stake, in what would be one of the country’s biggest deals aimed at boosting black participation in the economy, according to two people familiar with the matter. Vodacom plans to buy back part of the 12.47% stake owned by the government’s pension-fund manager, the Public Investment Corporation, said the people, who asked not to be identified because the deliberations were private. The shareholding could then be listed as a separate entity restricted to black investors, they said. Negotiations with the PIC were ongoing and an outcome was expected in coming months, said one of people. "Vodacom is committed to delivering on the ideals of black economic empowerment and continues to explore a variety of options with the primary objective of broad-based inclusivity," a spokesperson said in e-mailed comments, without directly commenting on whether such a transaction was being considered. "Any transaction of this nature will be conducted through a...
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