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Vodacom in R41bn deal to acquire control of Vodafone Egypt

Information and communications technology (ICT) giant Vodacom Group plans to acquire a controlling stake in Vodafone Egypt for R41-billion. The group, which announced on November 10 that it had agreed terms with Vodafone, will fund the acquisition of a 55% stake in Vodafone Egypt by issuing 242-million new ordinary shares at R135.75 a share and R8.2-billion in cash.

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