May 15, 2017
Vodafone transfers stake in Kenya operator Safaricom to Vodacom
Vodafone has transferred a 35 per cent stake in Kenyan operator Safaricom to Vodacom, its listed South African business, in the UK telco's latest move to simplify its sprawling global empire. The Safaricom transaction does indeed suggest that Vodafone is looking to 'clean up' its fragmented holdings. "The Safaricom transaction does indeed suggest that Vodafone is looking to 'clean up' its fragmented holdings," said Dhananjay Mirchandani, an analyst with Bernstein. Safaricom was one of three assets, alongside units in Ghana and Egypt, that were controlled by Vodafone rather than Vodacom, which owns networks in Tanzania, Lesotho, Mozambique and the Democratic Republic of Congo and 30 other African countries. Vodafone will maintain a 5 per cent stake in Safaricom and maintain a seat on the board.
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