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ABU DHABI, UAE, July 10, 2026 /PRNewswire/ -- Following a comprehensive strategic review of its international investment portfolio, Emirates Telecommunications Group Company PJSC ("e&") announced the termination of its Relationship Agreement with Vodafone Group PLC ("Vodafone"). In connection with this, e&'s Board representative has stepped down from his position as a non-executive Director of Vodafone.
e&
Following the termination of the Relationship Agreement, e& has signed a binding agreement with Vega, an acquisition vehicle wholly owned by the Niel family group, to divest its entire holding of 3,944,743,685 ordinary shares in Vodafone, representing approximately 16.21% of Vodafone's issued share capital and 17.13% of its total voting rights, for a total consideration of 112.5 GBp per share. This comprises approximately 110.5 GBp per share in cash from the buyer and Vodafone's final FY26 dividend (of 2.02 GBp per share, to be received on 30 July 2026).
The shares will be sold simultaneously through off-market block trades to three financial institutions, who will hold the shares until Vega completes regulatory requirements.
Upon completion of the transfer of the Shares to the financial institutions, the transaction will generate cash proceeds to e& of approximately AED 21.8 billion (USD 5.95 billion), inclusive of final FY26 dividend. The transaction is expected to deliver a net cash return of approximately AED 4.7 billion (USD 1.3 billion).
About e&
e& (ADX: EAND) is a global technology group committed to advancing the digital future across 38 countries in the Middle East, Asia, Africa, and Europe. Founded in Abu Dhabi in 1976, e& leverages its five decades legacy in advanced connectivity to deliver powerful digital solutions that unlock value and drive progress.
For enterprises and governments, e& provides mission-critical infrastructure, including sovereign cloud platforms, data centres, and AI-powered solutions to solve complex challenges and accelerate growth. For millions of customers, the Group brings world-leading connectivity together with digital services across entertainment, fintech, and superapp experiences that enrich daily life.
Driven by innovation and strengthened by global partnerships, e& delivers secure, high-performance technology that strengthens economies and expands opportunity globally.
To learn more about e&, visit eand.com
Contact:
Nancy Sudheer,
+971 50 705 529