Purchase of parent’s Egyptian unit will give Vodacom a market of half a billion people
The deal will allow Vodacom to expand the group’s footprint into northern Africa for the first time
10 November 2021 - 08:52
UPDATED 10 November 2021 - 23:38
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...
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