Dubai (Reuters) – UAE’s e& (EAND.AD) has submitted an offer to increase its stake in Vodafone (VOD.L) by 20%, e&’s CEO Hatem Dowidar told CNBC Arabia on Wednesday.
The company formerly known as Etisalat, e& has been gradually building up its stake in the British telecoms company ever since it took a 9.8% stake for $4.4 billion in May 2022.
Its ownership as of April stood at 14.61%, according to an SEC filing.
The UAE operator’s cooperation with Vodafone is awaiting regulatory approvals in countries where the British company operates, which “include an agreement to regulate relations between the two companies, and also the possibility of increasing our stake to 20%,” Dowidar said.
“We are hopeful to get these approvals in the next 3 or 4 months.”
