Vodafone International Holdings has agreed to transfer 35 percent indirect interest in Safaricom to Vodacom Group, its sub-Saharan African subsidiary.
Benefits
# Vodafone Group simplifies the management of its sub-Saharan African holdings
# Strengthens cooperation between Safaricom and Vodacom
# Vodacom gains exposure to the attractive Kenyan market
# Enhances investment case and strategic position
The transaction, which has a value of €2,361 million based on Vodacom’s closing share price on 12 May 2017, will increase Vodafone’s stake in Vodacom from 65 percent to 70 percent. Vodafone will continue to hold 5 percent indirect interest in Safaricom following the transfer, in addition to the indirect interest held through Vodacom.
