Emirates Telecommunications Company invests a stake of about 10 percent in…

(MENAFN) The Emirates Telecommunications Company, known as Etisalat, announced that it had bought a 9.8 percent stake in Vodafone for an amount of $4.4 billion, as the company aims to develop its global reach, according to Bloomberg News.

According to Bloomberg’s calculations, a telecom company published about 130 pence ($1.59) for the index.

Etisalat also stated in a report that it “invested in Vodafone to achieve a significant spread for a leading global company in the field of communication and digital services” and notes the enhancement of opportunities for business partnerships.

While the purchase comes as Vodafone is facing pressure from Sevian Capital AB, which called on the telecommunications giant to facilitate its business and seek agreements to strengthen profits.


Legal Disclaimer: MENA Financial Services Network provides the information “as is” without any representations or warranties…whether express or implied. This is a disclaimer of our responsibility for the privacy practices or the content of sites attached within our network, including images. and videos. For any inquiries regarding the use and reuse of this source of information please contact the provider of the above article.