Emirati e& lifts its stakes in Vodafone by 14%

Emirates Telecommunications Group – known as E& has raised its stakes in Vodafone Group by 14 percent of the company’s issued share capital, the company announced on Tuesday.  

The company said that its intention for investment will not change from what it was in May of 2022 when it bought its 9.8 percent stake to enhance its international wallet.

Vodafone’s stake fell by 15 percent since e& bought its first stake of 9.8 percent in May, as it faced difficulties to enhance its performance in three of the major European markets.

Liberty Global bought a stake of around 5 percent in Vodafone, describing it as an investment opportunity. The company also said that it seeks a place among the board of directors, and is presenting a bid to acquire.

Mike Fires, CEO of Liberty Global, said that the share value in Vodafone does not reflect the core value of the company or its chance of enhancement.

Xavier Niel, French businessman in the field of telecommunications, bought a stake of 2.5 percent in Vodafone in September. He also said that he is willing to offer consultancy to the Vodafone board of directors in regards to its strategy.

The share value in Vodafone has now increased by 0.8 percent in the morning trade on Tuesday.