Xavier Niel buys e&'s Vodafone stake
Analysis based on 39 articles · First reported Mar 09, 2018 · Last updated Jul 10, 2026
Vodafone shares rose 12% on the news, reflecting investor optimism about Niel's involvement and potential strategic direction. The deal provides e& with a net cash return of about $1.3 billion, which it can redeploy into core operations.
French billionaire Xavier Niel, through his family investment vehicle Vega, has agreed to acquire a 16.21% stake in Vodafone Idea from UAE telecoms group e& (Emirates Telecommunications Group Company) for approximately $5.95 billion (£4.4 billion). The deal, priced at 112.5 pence per share (a 15% premium to the last close), makes Niel Vodafone's largest shareholder. e& will exit its investment, terminating its relationship agreement with Vodafone and stepping down its board representative. The transaction is expected to close after regulatory approvals, with shares initially transferred to three financial institutions. Niel, founder of Iliad, has long been a proponent of European telecom consolidation. Vodafone, under CEO Margherita Della Valle, has been restructuring, focusing on Germany, the UK, and Africa, and recently completed its merger with Three UK to form VodafoneZiggo. The deal reflects e&'s strategic shift to focus on core businesses, while Niel sees Vodafone as a compelling investment with untapped value.
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