Vodafone's Shareholding In Vodacom To Fall To About 60.5% - Quick Facts

(RTTNews) - Vodafone Group Plc (VOD.L, VOD) on Monday said that Vodafone's shareholding in Vodacom is expected to fall to approximately 60.5% from 64.5%.

The company was responding to an announcement made by Vodacom regarding its transaction that is intended to support incremental broad-based black economic empowerment or BEE and ownership in Vodacom.

As a result of the transaction, Vodacom's BEE ownership will move from Vodacom South Africa to Vodacom Group. Vodacom will increase its ownership of Vodacom South Africa to 100% from 93.75% and issue new Vodacom Group shares to its BEE investors.

Vodafone noted that its holding in Vodacom is currently directly held by Vodafone Investments (SA) Proprietary Limited of 56.18% and Vodafone International Holdings B.V. Of 8.32%. Upon dilution from 64.5% to 60.5%, the shareholdings will change to 52.70% by VISA and 7.80% by VIHBV.