South African govt could sell stake in Vodacom - source

News General South Africa 17 OCT 2014
South African govt could sell stake in Vodacom - source
The South African government is thinking of selling its minority stake in Vodacom, Bloomberg reported, citing cources with knowledge of the matter. Vodafone has a 65 percent stake in Vodacom and could be a possible buyer for the new shares, the sources said. Vodafone owns 40 percent of Kenya's Safaricom and has branded businesses in Egypt and Ghana. The South African government's 13.9 percent stake in Vodacom is valued at about ZAR 25.5 billion. The state is exploring a sale of the unit as it seeks funds to rescue utility Eskom, the people with knowledge of the matter said.

Categories:

General

Companies:

Vodafone,  Safaricom,  Vodacom

Countries:

South Africa

Tags:

Corporate strategy, M&A buyouts & divestments

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