Vega secures 3.94 billion Vodafone shares at £1.105 each, becoming the telecom giant’s largest shareholder pending regulatory approval.
Vega, a holding company of Xavier Niel’s family, will acquire e&’s 16.21% stake in Vodafone Group for £4.4bn ($5.95bn). The deal includes 3.94 billion shares at £1.105 per share, representing 17.13% of Vodafone’s voting rights.
e& had held the stake since May 2023 under a relationship agreement, which will terminate upon completion. Vodafone will pay a final dividend of €0.023 per share to e& on 30 July. Regulatory approvals are expected by year-end.
The transaction will be financed by Niel and financial institutions, with no impact on other Niel family entities’ leverage. Vega plans to engage with UK authorities during the approval process.