RE: VOD IS A SITTING DUCK7 Dec 2022 16:06
Alliance News) - Emirates Telecommunications Group PJSC, also known as e&, on Wednesday said it raised its stake in Vodafone Group PLC to 11% of issued share capital, while confirming it has no plan to make a takeover offer for Vodafone.
It raised its stake to 3.02 billion shares from the 2.77 billion that it had acquired in May and which had given it a 9.8% stake.
e& said the rationale for its investment in the Berkshire, England-based telecommunications company remain unchanged from May, which is gaining significant exposure to a "world leader" in connectivity and digital service at an attractive valuation.
The company, formerly known as Etisalat, confirmed it had no intention to make an offer for Vodafone. However, it said it reserves the right to do so in line with UK takeover rules.