Vodafone Group has announced that Emirates Telecommunications Group (e&) will sell its entire shareholding in the company to Vega, an investment vehicle wholly owned by the Niel family group.

The transaction brings e&'s role as a major shareholder in Vodafone to an end, following its investment in the UK telecoms operator in 2022.

e& Ends Strategic Investment

The sale concludes e&'s investment in Vodafone, which led to the signing of a relationship agreement between the two companies in May 2023.

Following the transaction, Vodafone confirmed that the agreement governing its relationship with e& has been terminated.

Board Changes Follow Share Sale

As part of the exit, Hatem Dowidar, e&'s nominated representative on Vodafone's Board of Directors, has resigned with immediate effect.

The resignation reflects the end of e&'s involvement as a significant shareholder in the company.

Niel Family Becomes New Shareholder

Once the transaction is completed, Vega, the acquisition vehicle owned by the Niel family group, will assume ownership of the stake previously held by e&.

Vodafone did not disclose the financial terms of the deal or provide a timeline for its completion.