VDMCY - Vodacom wraps purchase of stake in Vodafone Egypt

• South Africa's Vodacom ( OTCPK:VDMCY ) ( OTCPK:VODAF ) has completed the purchase of parent Vodafone's ( NASDAQ: VOD ) 55% stake in Vodafone Egypt, streamlining the treatment of Vodafone's African assets.
• Vodafone received 242M shares in Vodacom, and received €577M in cash in exchange for its majority holding in Vodafone Egypt.
• The transaction has Vodafone Europe and Vodafone International Holdings - both indirect subsidiaries of Vodafone Group - selling to Vodacom.
• The move boosts Vodafone's shareholding in Vodacom to 65.1% from a previous 60.5%.
• “With the completion of the transfer of Vodafone Group’s shareholding in Vodafone Egypt to Vodacom Group Limited, we are simplifying Vodafone Group’s structure and supporting Vodacom and Vodafone Egypt for future growth,” says Vodafone's Margherita Della Valle.

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