Vodacom completes R42bn acquisition of Vodafone Egypt business (BL)
The takeover of the market leader with more than 40% market share in the country will push its operating profit growth potential into double digits. Vodacom has completed the R42bn acquisition of Vodafone’s Egypt operation. This is yet another move by Vodacom’s parent in reorganising its assets under SA’s largest mobile operator. For Vodacom, the acquisition of Vodafone Egypt, the market leader in the country with more than 40% market share and 38-million prepaid users, will accelerate its medium-term operating profit growth potential into double digits. “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,” the group said in a note to investors on Tuesday. Click here to read full article
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