Enhanced Investments - Financial Portal

Acquisition of a 55% interest in Vodafone Egypt completed

Published: 2022-12-13 10:00:43 ET

             Vodacom Group Limited
             (Incorporated in the Republic of South Africa)
             (Registration number 1993/005461/06)
             Share code VOD        ISIN ZAE000132577
             ADR code VDMCY ISIN US9258D2009
             (“Vodacom Group” or “the Company”)

             ACQUISITION OF A 55% INTEREST IN VODAFONE EGYPT COMPLETED

             Shareholders of Vodacom Group ("Shareholders") are referred to the announcements
             released on SENS on 10 November 2021 and 10 December 2021 respectively, setting out
             details of Vodacom Group’s acquisition of a 55% interest in Vodafone Egypt
             Telecommunications SAE ("Sale Shares") from Vodafone Europe B.V. and Vodafone
             International Holdings B.V., both indirect wholly owned subsidiaries of Vodafone Group Plc
             ("Transaction") and the announcement released on 18 January 2022, subsequent to the
             general meeting of Shareholders, confirming that the Transaction had been approved.

             Following the above, the Company confirms that all suspensive conditions contained in the
             circular have been fulfilled and/or waived, as applicable, consequently the Transaction has
             become unconditional. Accordingly, the Transaction was successfully implemented by way of
             transfer of the Sale Shares to the Company. The offer consideration was settled through the
             issuance of 241,976,243 new Vodacom Group shares (“Consideration Shares”) and cash
             proceeds of €577 million (equating c.R10,806 million). Following completion, Vodafone’s
             shareholding in Vodacom Group has increased from 60.5% to 65.1%. Vodacom Group
             expects to consolidate Vodafone Egypt over the remainder of the financial year.

             The Transaction presents a unique opportunity to advance Vodacom Group’s strategic
             connectivity and financial services ambitions in one of Africa’s premier telecom operators.
             Vodafone Egypt is a clear market leader, strategically positioned to capture growth in a fast-
             growing Information and Communications Technology market that is expected to diversify and
             accelerate Vodacom Group’s growth profile. As such, Vodacom Group intends to provide an
             update on its medium-term growth outlook with the trading update for the quarter ended 31
             December 2022, to be published on or about 31 January 2023.

             Midrand
             13 December 2022

             Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited




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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.