Emirates Telecommunications Group is exploring a potential investment in Vodafone Plc’s African business as it seeks to boost its international footprint, people familiar with the matter said. The Abu Dhabi carrier is studying the feasibility of an offer for part or all of Vodafone’s stake in Johannesburg-listed Vodacom Group, the people said, asking not to be identified because the information is private. Vodafone owns roughly 60% of the company. Vodacom shares jumped 7.
Etisalat’s possible acquisition of Vodafone’s 60% stake in African carrier Vodacom may face many obstacles as the governments of Morocco, South Africa and Kenya — as well as regulatory and competition authorities — would need to sign off. An agreement could yield considerable synergies for Etisalat, with emerging-market telecom and mobile-money expertise adding value to its operations outside the UAE. —John Davies, BI telecoms analyst. © 2022 Bloomberg L.P.
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