(MENAFN) On Saturday, Emirates Telecommunications Group Company PJSC, now identified as (e&), stated that it has obtained a 9.8 percent stock in Vodafone for USD4.4 billion.
The action came soon after e& stated that it is looking to grow into new markets in Africa, Europe as well as Asia in addition to regions outside telecoms including financial technology as its pursues to drive expansion.
The United Arab Emirates-based telecommunications company stated that it made the deal to increase "significant exposure to a world leader in connectivity and digital services".
UAE's e& has no purpose to make a bid to purchase Vodafone, stating that it is completely supportive of the firm's board and existing administration team and its present business strategy.
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