Vodacom pays $2.7bn for Vodafone Egypt, forms fibre JV

Vodafone on Wednesday reorganised the ownership structure of its African operations with a multi-billion-dollar deal.
Its South African unit, Vodacom, has agreed to acquire a 55 percent stake in Vodafone Egypt. It will fund the ZAR41 billion ($2.71 billion) deal with ZAR8.2 billion in cash and by issuing 242 million new shares priced at ZAR135.75 each. The deal will increase Vodafone’s stake in Vodacom to 65.1 percent from 60.5 percent.
Vodafone said in a regulatory filing that the reorgan