e& Sells Vodafone Stake for $5.95 Billion
Emirates Telecommunications Group Company (e&) is divesting its 16.21% stake in Vodafone to Vega for $5.95 billion, citing a strategic review. An e& board representative has resigned from Vodafone's board.
Abu Dhabi, UAE – July 10, 2026 – Emirates Telecommunications Group Company (e&) today announced the termination of its strategic partnership agreement with Vodafone Group PLC. This move includes the resignation of e&'s representative from Vodafone's board of directors.
Following the termination, e& has entered into a binding agreement with Vega, a company wholly owned by the Niel family, to sell its entire 16.21% holding in Vodafone. The sale encompasses 3,944,743,685 ordinary shares. The transaction price is set at 112.5 pence per share, incorporating the buyer's cash payment and Vodafone's final dividend for the 2026 fiscal year.
The sale of its stake is projected to yield approximately $5.95 billion (AED 21.8 billion) in cash for e&, inclusive of the dividend. The net cash return for e& is estimated at around $1.3 billion (AED 4.7 billion). The completion of the transaction is subject to regulatory approvals.
e& is a global technology group headquartered in Abu Dhabi, operating in 38 countries across the Middle East, Asia, Africa, and Europe. The company provides digital solutions, including cloud infrastructure, data centers, and AI-driven services for enterprises and governments, alongside global connectivity and digital services for consumers.