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The Business Magazine July 2024
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Emirates-based E& increases stake in Vodafone

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Telecommunications company Etisalat group (E&) has increased its stake in Berkshire-based Vodafone from 14 per cent to 14.6 per cent.

The increased stake increases E&'s held shares in Vodafone to about 3.9 billion, a stake worth around £3.6 billion. Vodafone’s share price has also risen to 91.05p, a one and a half per cent increase.

With this increase the UAE company has pushed for changes to the Vodafone board and have opened preliminary talks concerning the non-executive composition of Vodafone’s board of directors. The talks indicate E&’s concerns with Vodafone’s current business direction; the UAE firm has said that discussions covering a variety of topics are in both Vodafone’s and its shareholders best interests.

One of these topics will inevitably include the concerns over management. Chief Financial Officer Margherita Della Valle, who was brought in to provide stability for the company, has been in the position of interim CEO for four months with no clear sign of a permanent successor on the horizon.

Read more – Vodafone forms ad tech joint venture with Europe’s biggest telecommunications companies


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Tom Kilkelly started working as a freelance journalist for The Business Magazine following his graduation from UCL in 2022.

During his studies Tom became very interested in the works of Irish authors including Samuel Beckett and Flann O'Brien (Brian O'Nolan).

His current role as a freelance business reporter is his first exposure to the world of business journalism. Working at TBM has given Tom the chance to really get to grips with the goings-on in the business hive that is the South East.

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