Emirates Telecommunications Group announced the acquisition of 9.8% of the capital of the global Vodafone Group, with approximately 2.76 million shares, at a cost of $4.4 billion.
In a statement, yesterday, Saturday, Etisalat clarified that the move comes in light of the pursuit of expansion in the Middle East and globally, according to Bloomberg Agency.
Etisalat is offering about 130 pence per share, according to the agency's calculations, which is a premium of about 10% over Vodafone's closing price of 117.82 pence on Friday.
Etisalat clarified that the aim of the investment is to benefit from the company's global expertise in the field of communications and digital services.
After the acquisition, Etisalat UAE becomes the largest shareholder in Vodafone International.
