Abu Dhabi-based telecom and technology giant **e&** has decided to part ways with its investment in **Vodafone Group**, agreeing to sell its entire 16.21% shareholding in a transaction valued at around **AED 21.8 billion ($5.95 billion)**.
The buyer is **Vega**, an acquisition vehicle wholly owned by the French **Niel family group**, marking the end of e&’s strategic investment in the British telecom operator.
The deal covers approximately **3.94 billion Vodafone shares**, priced at **112.5 pence per share**. The consideration includes **110.5 pence in cash** along with Vodafone’s final dividend for FY2026 of **2.02 pence per share**, which is scheduled for payment on **July 30, 2026**.
Before the transaction reaches completion, the shares will be transferred through off-market block trades to three financial institutions. These entities will temporarily hold the stake while Vega secures the required regulatory approvals.
The sale follows a strategic reassessment by e&, which has also ended its relationship agreement with Vodafone. As part of that move, the UAE company has relinquished its representation on Vodafone’s board and confirmed it no longer intends to play any role in influencing the British telecom group’s governance or management.
According to the company, the divestment aligns with its long-term business strategy of sharpening focus on its core operations while unlocking the value created through its Vodafone investment.
Financially, e& expects the transaction to deliver a **net cash return of approximately AED 4.7 billion**. The agreement remains subject to customary closing conditions, with completion anticipated in the near future.
The acquiring entity is backed by the French **Niel family**, whose telecom interests include the **Iliad Group**, founded by entrepreneur **Xavier Niel**, the company’s majority shareholder and co-founder.
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