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Sharjah24
E&Y Successfully Completes $5.95 Billion Sale of Stake in Vodafone
Emirates Telecommunications Group "E&" successfully completed the sale of its entire stake in Vodafone, amounting to approximately 3.94 billion shares, for a total value of $5.95 billion. The completion of the deal resulted in a total cash return of AED 21.9 billion (about $5.95 billion), including AED 4.8 billion after taxes, with the aim of focusing on the company's core businesses and generating returns on its investments. This was announced following the signing of the sale agreement with "Vega," a subsidiary of the "Neil" family group, with the final proceeds received on July 30, 2026.
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