Vodafone notes the announcement today by Vodacom regarding its transaction that is intended to support incremental broad-based BEE (black economic empowerment) and ownership in Vodacom. As a result of the transaction, Vodacom's BEE ownership will move from Vodacom South Africa to Vodacom Group. Vodacom will increase its ownership of Vodacom South Africa from 93.75% to 100% and issue new Vodacom Group shares to its BEE investors, diluting existing Vodacom Group shareholders on a proportionate basis. Consequently, it is expected that Vodafone's shareholding in Vodacom will fall from 64.5% to approximately 60.5% [1].
https://www.investegate.co.uk/vodafone- ... 00048694Q/