Vodafone Shares Jump 13% After E& Agrees To Sell Stake

(RTTNews) - Vodafone Group PLC (VOD.L) shares rose 12.50 percent to 109.98 GBp, up 12.22 GBp from the previous close of 97.76 GBp, after Emirates Telecommunications Group or e& announced the sale of its entire 16.21 percent stake in the telecom operator to Vega, an acquisition vehicle wholly owned by the Niel family group.

Vodafone shares opened at 109.00 GBp and traded between 107.45 GBp and 111.10 GBp during the session on the London Stock Exchange. Trading volume reached 95.29 million shares, compared with an average daily volume of 75.18 million shares.

Under the binding agreement, e& will sell approximately 3.94 billion Vodafone shares for 112.5 GBp per share, comprising about 110.5 GBp in cash plus Vodafone's final FY26 dividend of 2.02 GBp per share. The transaction also ends the relationship agreement between the two companies, with e&'s board representative stepping down from Vodafone's board. The deal is expected to generate approximately AED 21.8 billion ($5.95 billion) in cash proceeds for e&, including the dividend.

The stock has traded between 80.20 GBp and 131.10 GBp over the past 52 weeks.