{"id":577925,"date":"2022-12-11T04:00:17","date_gmt":"2022-12-11T04:00:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/11\/vodacom-closes-acquisition-of-55-stake-in-vodafone-egypt\/"},"modified":"2022-12-11T04:00:17","modified_gmt":"2022-12-11T04:00:17","slug":"vodacom-closes-acquisition-of-55-stake-in-vodafone-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/11\/vodacom-closes-acquisition-of-55-stake-in-vodafone-egypt\/","title":{"rendered":"Vodacom closes acquisition of 55% stake in Vodafone Egypt"},"content":{"rendered":"

<\/a> Vodacom is Vodafone Egypt\u2019s new majority shareholder: <\/strong>Vodafone Plc\u2019s South African subsidiary, Vodacom, has closed the acquisition of its parent company\u2019s 55% stake in Vodafone Egypt, A<\/a>l Mal<\/a> reported on Thursday. The company reportedly acquired Vodafone\u2019s 132 mn shares in Vodafone Egypt in a block trade transaction on the EGX on Thursday for EGP 59.7 bn (USD 2.4 bn). Enterprise did not hear back from representatives of the FRA or Vodafone Egypt in time for dispatch.<\/p>\n

A long time coming: <\/strong>Vodafone shareholders approved plans<\/a> to offload the company\u2019s stake in Vodafone Egypt to Vodacom in January, after management greenlit the acquisition in November 2021<\/a>. Vodafone had been expecting to close before the end of March, but the transaction stretched on as the two sides waited for approvals from Egyptian regulators. Vodafone Plc owns 60.5% of Vodacom, according to public data.<\/p>\n

No official word yet from the regulators:<\/strong> There\u2019s still been no word publicly from the Financial Regulatory Authority or the National Telecommunications Regulatory Authority on the sale. Last we heard, the two regulators were still deciding whether to approve the transaction, which was the subject of a national security review. Vodacom Group CEO Shameel Joosub was quoted in November by South African media<\/a> as saying the company received regulatory approvals to go ahead with the acquisition.<\/p>\n

Vodafone Egypt could welcome another new shareholder to the mix before the end of the year: <\/strong>The Qatar Investment Authority (QIA) is among three Arab sovereign funds reported to be in talks with Telecom Egypt over the purchase of a 20% stake in Vodafone Egypt, which sources have said could close before the end of the year<\/a>. The EGX-listed telecoms giant holds the other 45% stake in Vodafone Egypt and the government owns 80% of TE.<\/p>\n

And Vodacom already has big plans for Egypt:<\/strong> The South African telco plans to launch<\/a> financial services products in Egypt through the Vodapay superapp it\u2019s developing with Chinese tech giant Alibaba Group. Vodapay is modeled on Alibaba\u2019s Alipay \u2060\u2014 the world\u2019s largest digital wallet \u2060\u2014 and provides access to a suite of financial services including online shopping, loans, and mobile payments.<\/p>\n

Advisors:<\/strong> EFG Hermes brokered the transaction, according to Al Mal.<\/p>\n","protected":false},"excerpt":{"rendered":"

Vodacom is Vodafone Egypt\u2019s new majority shareholder: Vodafone Plc\u2019s South African subsidiary, Vodacom, has closed the acquisition of its parent company\u2019s 55% stake in Vodafone Egypt, Al Mal reported on Thursday. The company reportedly acquired Vodafone\u2019s 132 mn shares in Vodafone Egypt in a block trade transaction on the EGX on Thursday for EGP 59.7 […]<\/p>\n","protected":false},"author":1,"featured_media":577926,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[214,72,76,7128,378,2362,467,142],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-cit","tag-enterpriseam","tag-financial-regulatory-authority","tag-ma-watch","tag-national-telecom-regulatory-authority","tag-qatar-investment-authority","tag-vodacom","tag-vodafone-egypt","wpautop","entry"],"acf":{"mongo_id":"5d9bc06d-68ff-484f-b563-c69b7917a5e2","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/182.jpg","photo_position":"above","related_issue":[577918],"teaser":"","voice_url":""},"yoast_head":"\nVodacom closes acquisition of 55% stake in Vodafone Egypt - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/11\/vodacom-closes-acquisition-of-55-stake-in-vodafone-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vodacom closes acquisition of 55% stake in Vodafone Egypt\" \/>\n<meta property=\"og:description\" content=\"Vodacom is Vodafone Egypt\u2019s new majority shareholder: Vodafone Plc\u2019s South African subsidiary, Vodacom, has closed the acquisition of its parent company\u2019s 55% stake in Vodafone Egypt, Al Mal reported on Thursday. 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A majority of shareholders in Vodacom approved the acquisition of the 55% stake in Vodafone Egypt during a general meeting, the Johannesburg-listed company announced in a\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/228.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":588252,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/08\/the-qataris-are-close-to-acquiring-up-to-30-of-vodafone-egypt-al-mal\/","url_meta":{"origin":577925,"position":1},"title":"The Qataris are close to acquiring up to 30% of Vodafone Egypt -Al Mal","author":"enterpriseam admin","date":"8 June 2023","format":false,"excerpt":"Acquisition talks stalled earlier this year due to disagreements over the size of the stake on offer","rel":"","context":"In "Privatization"","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/414.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578055,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/14\/vodacom-is-officially-vodafone-egypts-majority-shareholder\/","url_meta":{"origin":577925,"position":2},"title":"Vodacom is officially Vodafone Egypt\u2019s majority shareholder","author":"enterpriseam admin","date":"14 December 2022","format":false,"excerpt":"South Africa\u2019s Vodacom now owns the lion\u2019s share of Vodafone Egypt: Vodafone Group has transferred its 55% stake in its Egyptian unit to its South African subsidiary Vodacom in a EUR 2.37 bn cash and stock transaction, it said in a statement yesterday. The British company received 242 mn shares\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/288.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555330,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/10\/from-cape-to-cairo\/","url_meta":{"origin":577925,"position":3},"title":"From Cape to Cairo","author":"enterpriseam admin","date":"10 November 2021","format":false,"excerpt":"Vodafone\u2019s South African subsidiary is making a play for Vodafone Egypt: Vodacom has made an initial offer to acquire Vodafone Group\u2019s majority stake in Vodafone Egypt, minority shareholder Telecom Egypt said in a statement in the early hours of this morning.The current shareholder structure: Vodafone Egypt is currently 55% owned\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/391.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577240,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/15\/vodacom-wants-to-launch-its-superapp-with-alibaba-in-egypt\/","url_meta":{"origin":577925,"position":4},"title":"Vodacom wants to launch its superapp with Alibaba in Egypt","author":"enterpriseam admin","date":"15 November 2022","format":false,"excerpt":"Vodacom is already making plans for Egypt: Vodafone\u2019s South African subsidiary plans to launch financial services products in Egypt through its Vodapay superapp that it is developing with Chinese tech giant Alibaba Group, its CEO, Shameel Joosub, told Bloomberg yesterday. The company hopes to soon enter Egypt with the EUR\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/235.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555368,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/give-me-the-green-light\/","url_meta":{"origin":577925,"position":5},"title":"Give me the green light","author":"enterpriseam admin","date":"11 November 2021","format":false,"excerpt":"Vodafone Group has agreed to transfer its 55% stake in Vodafone Egypt to Vodacom, its sub-Saharan African subsidiary, in a EUR 2.72 bn transaction, according to a company statement. The move will \u201csimplify\u201d the management of its African holdings, according to the UK-based parent company. The South Africa-based telecommunications company\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/411.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=577925"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577925\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/577918"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/577926"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=577925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=577925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=577925"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=577925"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=577925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}