{"id":177495,"date":"2017-06-02T12:15:12","date_gmt":"2017-06-02T10:15:12","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=177495"},"modified":"2017-06-02T12:15:12","modified_gmt":"2017-06-02T10:15:12","slug":"vodacom-gets-pic-backing-for-safaricom-acquisition","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/177495\/vodacom-gets-pic-backing-for-safaricom-acquisition\/","title":{"rendered":"Vodacom gets PIC backing for Safaricom acquisition"},"content":{"rendered":"<p>Vodacom says it has received a letter of support from the Public Investment Corporation for its proposed transaction in Safaricom.<\/p>\n<p>Vodacom Group announced in mid May that it had agreed terms to acquire a strategic stake in Kenya\u2019s Safaricom held by Vodafone Group,\u00a0which currently owns 65% of Vodacom.<\/p>\n<p>Vodacom will fund the acquisition of a 34.94% stake in Safaricom by issuing 226.8 million new ordinary shares.<\/p>\n<p>The PIC, which includes the Government Employees Pension Fund, holds a 15.63% interest in Vodacom Group. &#8220;In its letter of support, the PIC has undertaken to vote in favour of the resolutions required to implement the proposed transaction at the general<br \/>\nmeeting to be convened by Vodacom Group,&#8221; the mobile operator said in a statement on SENS.<\/p>\n<p>Vodacom\u2019s interest in Safaricom proportionally equates to approximately 12.6% of the group\u2019s reported service revenue as announced in its latest year end results.<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/mobile\/174949\/vodacom-to-acquire-r35-billion-stake-in-kenyas-safaricom\/\" target=\"_blank\" rel=\"noopener noreferrer\">Vodacom to acquire R35 billion stake in Kenya\u2019s Safaricom<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vodacom says it has received a letter of support from the Public Investment Corporation for its proposed transaction in Safaricom.<\/p>\n","protected":false},"author":10,"featured_media":90256,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[25,5246,27],"class_list":["post-177495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-active","tag-safaricom","tag-vodacom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/177495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=177495"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/177495\/revisions"}],"predecessor-version":[{"id":177497,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/177495\/revisions\/177497"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/90256"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=177495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=177495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=177495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}