Johannesburg: Vodafone Group Plc is simplifying its holdings in sub-Saharan Africa, selling a US$2.6bil stake in Kenya’s Safaricom Ltd to its majority-owned Vodacom Group Ltd.
The all-share deal will transfer a 35% stake in Safaricom to Vodacom in return for stock in the Johannesburg-based unit, raising the parent’s stake in its South African business to about 70%. Bloomberg News reported the deal on Sunday.
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