E& Group (ADX:EAND), the UAE telecom operator, announced that it will sell its entire stake in Vodafone (LSE:VOD) to the investment vehicle of French billionaire Xavier Niel’s family. The deal is valued at $5.95 billion, pricing Vodafone shares at 112.5 pence per share, which represents a 15 % premium to the previous closing price of 97.76 pence. E& Group expects the transaction to generate approximately $1.3 billion of net cash proceeds.
Following the announcement, E& Group’s shares rose 3.7 % in early trade on Friday, reaching 20.38 dirhams, the highest level in more than four months and the largest intraday gain in over eight months.
The article was authored by Senad Karaahmetovic and published on 10‑07‑2026 at 01:36 pm.