e& sells Vodafone stake for $5.95 billion

Abu Dhabi's technology group e&, formerly Emirates Telecommunications Group Company PJSC, announced on July 11, 2026, that it has agreed to sell its entire stake in Vodafone Group PLC for $5.95 billion.

The transaction involves 3,944,743,685 ordinary shares of Vodafone, representing approximately 16.21% of Vodafone's issued share capital and 17.13% of its total voting rights. Concurrently, e& confirmed the termination of its strategic cooperation agreement with Vodafone, and its representative has resigned from Vodafone's board of directors.

The sale price is set at 112.5 pence per share. This includes 110.5 pence per share from the buyer and Vodafone's final dividend for the fiscal year 2026, amounting to 2.02 pence per share, expected to be paid on July 30. The shares will be sold via block trades to three financial institutions, which will hold them until the buyer, Vega, fulfills regulatory requirements.

Vega is an acquisition vehicle fully owned by the Niel family's business group. The transaction is projected to generate a gross cash inflow of approximately 21.8 billion UAE dirhams ($5.95 billion) for e&, including the fiscal year 2026 final dividend. The net cash proceeds are estimated to be around 4.7 billion UAE dirhams ($1.3 billion).

Founded in Abu Dhabi in 1976, e& operates as a global technology group across 38 countries. The company provides digital solutions for enterprises, government entities, and consumers, focusing on connectivity and digital services, including cloud platforms and AI-driven solutions.