Emirates Telecommunications Group Company (e&) has announced the successful completion of the sale of it Vodafone stake to Vega, realising cash proceeds of $5.95 billion.

e& had announced on 10th July 2026 the signing of a binding agreement with Vega, an acquisition vehicle wholly owned by the Niel family group, for the sale of e&’s entire holding in Vodafone Group. 

e& said its 3,944,743,685 ordinary shares in Vodafone have been transferred to BNPP Financial Markets, Crédit Agricole Corporate and Investment Bank, and Société Générale.

The transfer has generated gross cash proceeds to e& of AED21.5 billion (USD 5.84 billion), representing c. 110.5 GBX per share. The remaining consideration of 2.02 GBX dividend per share (equivalent to AED 0.4 billion / $0.11 billion), related to the FY’26 final dividend, is to be received on July 30,2026.  This will bring the total consideration to AED21.9 billion (equivalent of $5.95 billion), generating a net cash return of AED4.8 billion ($1.3 billion), the company said.

"This transaction reflects the natural evolution of the e&’s strategic priorities, enabling the group to sharpen its strategic focus on its core businesses while unlocking the value created through its investments," it said.  -TradeArabia News Service