The transaction has cleared all outstanding regulatory and procedural hurdles, Vodacom said in a statement on Tuesday.
Vodacom announced its intention to acquire the Vodafone Egypt stake in November 2021 for R48.1-billion. This has new been settled through the issuance of 242 million new Vodacom shares plus cash of R10.8-billion.“In addition to being an attractive asset on a standalone basis, we will seek to leverage our financial services product road map, including our super-app approach, to accelerate Vodafone Egypt’s financial services opportunity,” said Vodacom Group CEO Shameel Joosub in a statement.
Vodacom said it intends to provide an update on its medium-term growth outlook when it publishes its next quarterly trading update, expected on 31 January 2023. –