{"id":578055,"date":"2022-12-14T04:00:43","date_gmt":"2022-12-14T04:00:43","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/14\/vodacom-is-officially-vodafone-egypts-majority-shareholder\/"},"modified":"2022-12-14T04:00:43","modified_gmt":"2022-12-14T04:00:43","slug":"vodacom-is-officially-vodafone-egypts-majority-shareholder","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/14\/vodacom-is-officially-vodafone-egypts-majority-shareholder\/","title":{"rendered":"Vodacom is officially Vodafone Egypt\u2019s majority shareholder"},"content":{"rendered":"

<\/a> South Africa\u2019s Vodacom now owns the lion\u2019s share of Vodafone Egypt:<\/strong> 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<\/a> yesterday. The British company received 242 mn shares in Vodacom and EUR 577 mn in cash in return for the majority stake in Vodafone Egypt.<\/p>\n

Vodafone Egypt is now jointly owned by Vodacom and Telecom Egypt<\/strong>, which holds the remaining 45% of Vodafone Egypt. (Separately, the transaction raises Vodafone Group\u2019s stake in its South African unit to 65.1% from 60.5%, it said.)<\/p>\n

Could Vodafone Egypt soon be welcoming more new shareholders?<\/strong> The Qatar Investment Authority is reportedly among three Arab sovereign funds in talks with Telecom Egypt to purchase a 20% stake in Vodafone Egypt, which local reports have suggested could close before the end of the year<\/a>.<\/p>\n

We thought this was coming:<\/strong> The statement comes a few days after reports in local media<\/a> suggested that Vodacom acquired the parent company\u2019s 132 mn shares in Vodafone Egypt in a block trade transaction on the EGX for USD 2.4 bn.<\/p>\n

A win-win for all: <\/strong>The sale will help Vodafone streamline its African assets and hand Vodacom exposure to a \u201cleading business in an attractive market, diversifying its portfolio and accelerating its growth profile,\u201d the company said. \u201cVodafone Egypt will benefit from closer cooperation with its new majority shareholder, allowing it to fasten the pace for growth in financial services and the Internet of Things.\u201d<\/p>\n

What they said:<\/strong> \"With the completion of the transfer of Vodafone Group Plc's shareholding in Vodafone Egypt to Vodacom Group Limited, we are simplifying Vodafone Group's structure and supporting Vodacom and Vodafone Egypt for future growth,\u201d said Margherita Della Valle, who is taking over from Nick Read<\/a> as the group CEO this month.<\/p>\n

REFRESHER-<\/strong> Vodacom shareholders approved plans<\/a> to purchase the shares in January after the two companies announced an agreement in November 2021<\/a>. The transaction values the 55% stake in Vodafone Egypt at EUR 2.72 bn<\/a> on a debt-free, cash-free basis, giving the company an overall valuation of EUR 4.95 bn, by our math. 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.<\/p>\n

VICAT UPS STAKES IN SINAI CEMENT-<\/strong><\/p>\n

French cement producer Vicat Egypt has raised its stake in EGX-listed subsidiary <\/strong>Sinai Cement to 67.2%<\/strong> from 51.0%, according to a disclosure (pdf)<\/a> filed on the EGX last week. The company bought a 16.2% stake (c. 21.5 mn shares) for EGP 139.6 mn (USD 5.66 mn), the filing said.<\/p>\n

Among the selling shareholders:<\/strong> Arab Industrial Investment sold (pdf)<\/a> a 6.6% stake, United Company for Development and Services offloaded (pdf)<\/a> 4.85% and the Investments Company for Industry sold (pdf)<\/a> 3.1%.<\/p>\n

Vicat tried to mount a takeover bid for Sinai Cement earlier this year<\/strong>, launching a<\/a>mandatory tender offer<\/a> for 42.1% of the company\u2019s shares.<\/p>\n

EMIRATI TECH INVESTOR EYES EGYPT NBFS SECTOR-<\/strong><\/p>\n

UAE-based tech investor <\/strong>Astra Tech<\/a><\/strong> is looking to invest USD 400 mn in four <\/strong>Egyptian financial services and consumer finance companies next year<\/strong>, founder Abdallah Abu Sheikh reportedly told Al Mal<\/a>. The planned acquisitions are part of the company\u2019s plans to create a super app that includes payment and transfer services.<\/p>\n

Astra Tech is no stranger to Egypt: <\/strong>The company has been present in the Egyptian market since 2018, Abu Sheikh is quoted as saying, adding that the company has so far invested USD 400 mn. Earlier this year Astra Tech acquired Emirati super app Rizek, which launched operations<\/a> in Egypt last year.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 in Vodacom and EUR 577 […]<\/p>\n","protected":false},"author":1,"featured_media":578056,"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":[6452,1002,214,72,7196,7128,1420,1421,467,142,465],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-578055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-astra-tech","tag-cement","tag-cit","tag-enterpriseam","tag-industry","tag-ma-watch","tag-sinai-cement","tag-vicat","tag-vodacom","tag-vodafone-egypt","tag-vodafone-group","wpautop","entry"],"acf":{"mongo_id":"a27eb556-facb-488b-909d-51f3ed0dc9b6","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/288.jpg","photo_position":"above","related_issue":[578050],"teaser":"","voice_url":""},"yoast_head":"\nVodacom is officially Vodafone Egypt\u2019s majority shareholder - 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\/14\/vodacom-is-officially-vodafone-egypts-majority-shareholder\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vodacom is officially Vodafone Egypt\u2019s majority shareholder\" \/>\n<meta property=\"og:description\" content=\"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. 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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":577925,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/11\/vodacom-closes-acquisition-of-55-stake-in-vodafone-egypt\/","url_meta":{"origin":578055,"position":1},"title":"Vodacom closes acquisition of 55% stake in Vodafone Egypt","author":"enterpriseam admin","date":"11 December 2022","format":false,"excerpt":"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\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\/182.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577220,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/turkish-industrial-giant-eyes-egypts-auto-sector\/","url_meta":{"origin":578055,"position":2},"title":"Turkish industrial giant eyes Egypt\u2019s auto sector","author":"enterpriseam admin","date":"14 November 2022","format":false,"excerpt":"M&A Watch: The Financial Regulatory Authority is examining a voluntary tender offer by Vodacom to acquire 0.05% of Vodafone Egypt for EUR 17.92 a share, it said in a statement (pdf) yesterday. The transaction would see the South African subsidiary acquire 124,600 shares in Vodafone Egypt for almost EUR 2.5\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":670933,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/28\/vodacom-taps-ayman-essam-as-its-new-chief-external-affairs-officer\/","url_meta":{"origin":578055,"position":3},"title":"Vodacom taps Ayman Essam as its new chief external affairs officer","author":"enterpriseam admin","date":"28 August 2025","format":false,"excerpt":"Essam will be responsible for external affairs across Vodacom\u2019s African markets","rel":"","context":"In "Moves"","block_context":{"text":"Moves","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/moves\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/8\/1689.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":578055,"position":4},"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":578055,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578055","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=578055"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578055\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/578050"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/578056"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=578055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=578055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=578055"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=578055"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=578055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}