November 29, 2023

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UAE’s e& and UK telecom large Vodafone agency up settlement; e& Group CEO to affix board

1 min read

e& and Vodafone’s new ‘relationship settlement establishes e& as a cornerstone shareholder of Vodafone. That is the following part in a strategic relationship that started in Might 2022, when e& made its first funding in Vodafone.

The strategic relationship additionally permits collaboration throughout a number of development areas, as ‘e& and Vodafone might be able to profit from one another’s respective operational scale and complementary geographic footprint’.

The important thing areas of business collaboration that e& and Vodafone will initially pursue embrace:

Beneath the phrases of the settlement, the Group Chief Govt Officer of e&, will be part of the Vodafone Board as a non-executive Director – for so long as e& maintains its present shareholding of 14.6 per cent. e& may also have the power to appoint a second non-executive Director, impartial of e&, if its shareholding exceeds 20 per cent (topic to sure changes whereas regulatory approvals are excellent).

These appointments are topic to receipt by e& of the required regulatory approvals.

“Our funding in Vodafone is anchored by Vodafone Group’s established place and worldwide status as a distinguished trade participant that gives cutting-edge connectivity and digital providers,” stated Hatem Dowidar, Group CEO of e&. “This aligns with e&’s imaginative and prescient of turning into a worldwide telecom and expertise participant.”

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