Stock Market News
Vodafone holding in Vodacom to be diluted
Vodafone's South Africa operation Vodacom announced a transaction to support incremental broad-based black economic empowerment (BEE) and ownership in Vodacom on Monday.
The company said that as a result of the transaction, Vodacom's BEE ownership will move from Vodacom South Africa to Vodacom Group.
"Vodacom will increase its ownership of Vodacom South Africa from 93.75% to 100% and issue new Vodacom Group shares to its BEE investors, diluting existing Vodacom Group shareholders on a proportionate basis," Vodafone explained in its statement.
"Consequently, it is expected that Vodafone's shareholding in Vodacom will fall from 64.5% to approximately 60.5%."
The company said that as a result of the transaction, Vodacom's BEE ownership will move from Vodacom South Africa to Vodacom Group.
"Vodacom will increase its ownership of Vodacom South Africa from 93.75% to 100% and issue new Vodacom Group shares to its BEE investors, diluting existing Vodacom Group shareholders on a proportionate basis," Vodafone explained in its statement.
"Consequently, it is expected that Vodafone's shareholding in Vodacom will fall from 64.5% to approximately 60.5%."
Related share prices |
---|
Vodafone Group (VOD) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price