Local market may be cool towards Vodacom sale, says analyst

Vodacom shares rocketed on Thursday amid growing speculation that its UK parent may be looking to sell the business.

The company’s stock rose as much as 10% on the news but the gains were pared to just more than 4% by the close, valuing the shares at R130.02 apiece.The initial stage considerations include merging the business with other operators, selling some assets in certain markets, or even selling a stake in the company, the people said.

Vodacom has a market value of about R270bn on the Johannesburg bourse after falling about 13% in the past 12 months. Vodafone is down more than 25% in the same period, valuing it at £28.1bn . In December, it was reported that Vodafone is considering selling its stake in Vodacom to e&, whose CEO, Egyptian national Hatem Dowidar, has previously held roles at Vodacom, Vodafone Group, and Vodafone Egypt.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Vodafone mulls selling off Vodacom stake or merging it with other operators: sources | BusinessVodafone Group is exploring options for its African business as investors ramp up pressure on the UK telecom company to boost performance, people familiar with the matter said. | News24_Business _Business Like every other cellphone network they're crap. Their internet service is not an option either. Independent small ISP's are they way to go. These BEE AA EE quota monopolies must fall! _Business That's how they steal our millions and get away we no longer surprised just wow
Source: News24 - 🏆 4. / 80 Read more »