UAE's e&'s stake in UK telecom giant rises

e& has been one of the major shareholders in Vodafone since May 2022

Last updated: June 17, 2025 | 08:55

Manoj Nair, Business Editor

1 MIN READ

Since 201, the UAE telecom-tech group e& had been expanding its reach, operationally and via investments, in overseas markets.

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Dubai: The UAE telco-tech holding company e& now has a 16% stake in UK mobile services provider Vodafone. In recent years, e& emerged a key shareholder in Vodafone in a strategy that has seen the UAE company expand its investment reach into new markets outside of the Middle East.

e& initially spent $4 billion for a 9.8% stake in Vodafone, which was announced in May 2022. And then in January 2023, it confirmed having raised that shareholding to 12%.

Also Read: UAE’s e& raises stake in UK telecom giant Vodafone to 12%

However, the current 16% stake wasn't about e& buying more shares in Vodafone.

Instead, 'the updated shareholding is a result of Vodafone carrying out its share buyback programme', said e& in a statement.

This then led to Vodafone' share capital being reduced. But e&’s total number of shares remains the same at 3,944.7 million shares - but that now secures it a 16% stake.

Vodafone buyback

Vodafone has been on a share buyback program to rejig its capital base and generate better value for shareholders. Its latest buyback is also for 2 billion euros. The company has divested some of its operations in Europe while trying to get back the right growth numbers in Germany.

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Manoj NairBusiness Editor

Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well. Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental. He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.