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Vodacom to lift stake in Tanzanian unit to 82%
2013-11-27 10:39:00| Telecompaper Headlines
(Telecompaper) Vodacom Group has agreed to pay ZAR 2.46 billion (USD 243 million) to acquire an additional 17 percent in its Tanzanian unit. Vodacom said it would indirectly raise its stake in Vodacom Tanzania to 82.2 percent from 65 percent by buying new shares in the company's minority shareholder, Cavalry Holdings. It will fund the purchase through cash and existing debt facilities. It said Tanzania had been its most successful sub-Saharan investment. Vodacom is the top mobile operator in the east African nation, with just over 10 million customers.
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Category:Telecommunications