Emirates Telecom Sells Vodafone Stake to Xavier Niel for $5.9 Billion, Vodafone Jumps 13%
Emirates Telecom agreed to sell a stake in Vodafone to a vehicle controlled by the family of French billionaire Xavier Niel in a transaction valued at $5.9 billion.
The deal makes the French telecoms tycoon Vodafone’s largest shareholder. Vodafone shares jumped 13% in morning trading on the news, which was executed at a premium, and the operator said it looks forward to working with the Niel family group as a long-term investor.
From the sources (6 posts)
@businessEmirates Telecom has agreed to sell a stake in Vodafone to a vehicle controlled by the family of French billionaire Xavier Niel, in a deal valued at almost $6 billion
@firstsquawkXavier Niel to Become Vodafone’s Largest Shareholder With $5.9 Billion Stake Buy - WSJ
@firstsquawkVodafone says it looks forward to working with Niel family group as a long-term investor.
@firstsquawkVODAFONE UP 12% AFTER FRENCH TELECOMS TYCOON NIEL BUYS E&'S STAKE
@firstsquawkVODAFONE UP 13% AS NIEL BUYS EMIRATES TELECOM STAKE AT PREMIUM
@reutersUAE's E& to sell Vodafone stake to French telecoms tycoon Niel for nearly $6 billion