Vodafone acquires further 15% stake in Vodacom
By George Bevir on Sunday, October 12, 2008
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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