Vodafone Sells its 35 Percent Stake in Safaricom to Vodacom

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Vodafone has agreed to transfer the 35 percent of its shareholding in Safaricom Limited to Vodacom Group for 2226.8 million new shares in Vodacom.

The transfer now increases Vodafone’s shareholding in Vodacom from 65 percent to 70 percent with the new shareholding valued at 2.4 billion pounds.

Vodafone had at least 40 percent indirect shares in Safaricom and by handing over 35 percent to Vodacom, the company will now remain with 5 percent of indirect shares in the leading telecommunication company in Kenya. Vodafone will now continue to report its direct and indirect shares in Safricom under what is known as the equity method.

 

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Juma Fred

Juma Fredrick is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it.You can reach him on: (020) 528 0222 or Email: [email protected]