UAE's e& lifts stake in Vodafone to 14%

UAE telecommunications company e&, formerly Etisalat, has upped its stake in London-listed Vodafone Group again.

E& lifted its stake in the company to 14% from 13% earlier this month.

Abu Dhabi-listed e&, which first bought a stake of 9.8% in Vodafone last May, now owns 3.79 billion shares.

It said in a filing that it completed the purchase on Monday.

"The investment rationale remains unchanged from our initial announcement on the 14th of May 2022," e& said.

It had said in May that it made the purchase "to gain significant exposure to a world leader in connectivity and digital service at an attractive valuation".

French telecoms billionaire Xavier Niel bought a 2.5% stake in Vodafone in September 2022, and Liberty Global purchased a 4.9% stake earlier this month.