South Africa's PIC acquires 13.9% stake in Vodacom

Thursday 3 December 2015 | 10:08 CET | News
The South African government investment manager, the Public Investment Corp (PIC) has finalised its acquisition of the state's 13.9 percent equity stake in Vodacom. The government is set to use the proceeds of the sale to the PIC to help fund energy group Eskom. At the current share price, the PIC's 13.9 percent slice of Vodacom is worth just over ZAR 30 billion. The PIC acquired a first tranche of Vodacom from the government in July. PIC said the transaction is of significance in allowing the government of South Africa, as part of selling its noncore assets, to use the proceeds towards

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Categories: Mobile & Wireless
Companies: Vodacom
Countries: South Africa
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