e& Sells Vodafone Stake for USD 5.95 Billion

Abu Dhabi, UAE – Emirates Telecommunications Group Company PJSC, known as e&, announced on July 10, 2026, that it has divested its entire 16.21% holding in Vodafone Group PLC to Vega, an acquisition vehicle wholly owned by the Niel family group. The sale, valued at approximately USD 5.95 billion (AED 21.8 billion), includes Vodafone's final FY26 dividend.

The transaction also signals the termination of e&'s Relationship Agreement with Vodafone. Consequently, e&'s board representative has stepped down as a non-executive director of Vodafone. The shares are being sold through off-market block trades to three financial institutions, who will hold them until Vega completes regulatory requirements.

This move represents a significant strategic realignment for e&, a global technology group operating across the Middle East, Asia, Africa, and Europe. The company has been reviewing its international investment portfolio to optimize its strategic focus. The sale proceeds are expected to provide e& with a net cash return of approximately USD 1.3 billion.

Vega, backed by the Niel family, has shown prior interest in telecommunications assets. This acquisition is anticipated to strengthen their position within the European telecom sector. The transaction is expected to close following the satisfaction of customary conditions.