Vodafone not interested in 100% of Vodacom
Mobile phone giant Vodafone Group is only interested in securing a majority stake in South Africa’s top mobile group Vodacom, not in buying the whole business, Vodafone’s chief said on Wednesday.
By TNN |
LONDON/NEW YORK: Mobile phone giant Vodafone Group is only interested in securing a majority stake in South Africa’s top mobile group Vodacom, not in buying the whole business, Vodafone’s chief said on Wednesday.
Chief executive Arun Sarin said Vodafone would not be interested in buying the entire 50% Vodacom stake it does not already own because it might otherwise have to sell part of the holding at a discount at a later stage. South Africa’s largest telecoms operator, Telkom, which owns the remaining 50% of Vodacom, said earlier this month it was in talks with Vodafone after launching a review of its telecom businesses.
Chief executive Arun Sarin said Vodafone would not be interested in buying the entire 50% Vodacom stake it does not already own because it might otherwise have to sell part of the holding at a discount at a later stage. South Africa’s largest telecoms operator, Telkom, which owns the remaining 50% of Vodacom, said earlier this month it was in talks with Vodafone after launching a review of its telecom businesses.
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