Vodafone acquires further 15% stake in Vodacom

US$2.3 billion deal set to give Vodafone 65% stake in South African telco.

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By  George Bevir Published  October 11, 2008

Vodafone has announced plans to acquire a further 15% in South African telecom company Vodacom for US$2.3 billion (ZAR 22.5 billion).

The “non-binding proposal” to acquire a 15% stake in Vodacom would result in Vodafone owning 65% of what it describes as an “attractive asset with strong market positions in South Africa, Democratic Republic of Congo, Lesotho, Mozambique and Tanzania”.

Vodacom is the largest mobile operator in South Africa, with 24.8 million subscribers. It also has a further 9.2 million customers in the Democratic Republic of Congo, Lesotho, Mozambique and Tanzania, according to figures released by Vodacom in March.

This latest deal is further evidence of the UK-based operator’s intention to make its mark on the African telecoms industry.

Earlier this month, Vodafone appointed Morten Lundal to the newly created role of CEO of the Central Europe and Africa Region. In August, the Ghanaian parliament ratified Vodafone’s $900 million bid for a 70% share of Ghana Telecom in August.

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