Xavier Niel’s investment vehicle, Vega, agreed to acquire a 16.2% stake in Vodafone Group Plc.
The transaction is valued at approximately £4.4 billion.
The purchase price equals roughly €5.1 billion.
The Niel family group acquired the shares from Emirates Telecommunications Group Co.
This acquisition establishes the Niel family group as the largest shareholder in Vodafone.
Hatem Dowidar resigned from the Vodafone board following the announcement.
Vega confirmed its intention to remain a committed, long-term shareholder.
The ownership change may lead to strategic shifts in European and African markets.