UAE's E& sells Vodafone stake to France's Niel for nearly $6b

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UAE’s E& sells Vodafone stake to France’s Niel for nearly $6b

July 10, 2026

DUBAI,— Emirates Telecommunications Group E&, announced Friday it is selling its entire stake in Vodafone Group for $5.95 billion to a company owned by French billionaire Xavier Niel’s family, Reuters reported.

The move ends the Abu Dhabi firm’s investment in the British telecom giant following a review of its global holdings.

The sale values Vodafone shares at 112.5 pence each, which is 15% higher than the stock’s last closing price of 97.76 pence.

E& said the transaction will bring in roughly $1.3 billion in net cash once the deal closes.

Company officials described the exit as part of a “natural evolution” in strategy, saying it allows E& to focus more closely on its main business areas while freeing up capital from the sale.

Niel founded and owns Iliad, a French telecommunications company. Iliad has not yet responded to a request for comment on the deal.

According to E&, the Vodafone shares will be sold at the same time through off-market block trades handled by three financial institutions.

Those institutions will hold the shares temporarily until Niel’s acquisition company satisfies regulatory conditions.

E& also confirmed it will no longer try to influence Vodafone’s board or leadership, noting that its representative has already resigned from the board.

Vodafone has not commented publicly on the sale.

(With files from Reuters)