Dubai May 14 2022: UAE phone company Etisalat Group said it bought a 9.8% stake in Vodafone Group Plc for $4.4 billion as the Middle Eastern telecommunications provider seeks to expand globally.
Etisalat Group offered about 130 pence ($1.59 dollars) a share, according to Bloomberg calculations. That’s a premium of about 10% to Vodafone’s 117.82 pence closing price Friday. The purchase makes Etisalat Vodafone’s largest shareholder, ahead of BlackRock Inc., the Vanguard Group Inc., and HSBC Holdings Plc, according to Bloomberg data.
