Vodacom has signed a deal to buy a controlling stake in the Egyptian unit of parent Vodafone for $2.73bn (R41bn) in a cash and share deal that expands the group’s footprint into northern Africa for the first time.

Vodacom said the acquisition of Vodafone Egypt, the market leader in the country with more than 40% market share and 38-million prepaid users, would accelerate its medium-term operating profit growth potential into double digits...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now