Vodacom shareholders approve expansion in Egypt
Vodacom says the acquisition of Vodafone Egypt, the market leader in the country, will accelerate its medium-term operating profit growth potential into double digits
18 January 2022 - 16:01
Shareholders in SA’s largest mobile operator have approved 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 aims to expand the group’s footprint into Northern Africa for the first time.
“This is an exciting and important milestone for Vodacom as the acquisition of Vodafone Egypt will be transformational in our evolution from a telecommunications company to a technology company,” said Vodacom Group CEO Shameel Joosub, following the shareholders’ vote at a general meeting on Tuesday...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.