Vodafone raises stake in Vodacom to 65 per cent (South Africa)

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Vodafone raises stake in Vodacom to 65 per cent (South Africa)

December 15, 2008

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Telkom South Africa has reportedly accepted the Vodafone Group's $2.5 billion offer to acquire another 15 per cent stake in South African cellular operator Vodacom. The deal will raise Vodafone's stake in Vodacom from 50 per cent at present to 65 per cent. Telkom South Africa is reportedly looking to offload its remaining 35 per cent interest in Vodacom to Telkom shareholders.