{"id":186001,"date":"2017-07-18T11:46:57","date_gmt":"2017-07-18T09:46:57","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=186001"},"modified":"2017-07-18T11:46:57","modified_gmt":"2017-07-18T09:46:57","slug":"vodacom-shareholders-give-the-go-ahead-for-r35-billion-safaricom-acquisition","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/mobile\/186001\/vodacom-shareholders-give-the-go-ahead-for-r35-billion-safaricom-acquisition\/","title":{"rendered":"Vodacom shareholders give the go-ahead for R35 billion Safaricom acquisition"},"content":{"rendered":"

Vodacom’s proposal to acquire a 35% stake in Kenya’s Safaricom has been given the all-clear by the group’s minority shareholders.<\/p>\n

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

Vodacom said it will fund the acquisition of a 34.94% stake in Safaricom by issuing 226.8 million new ordinary shares.<\/p>\n

In June, the group received approval from the Public Investment Corp. (PIC) – which\u00a0holds a 15.63% interest in Vodacom – for the acquisition.<\/p>\n

The group said that the deal will provide Vodacom shareholders with access to a high growth, high margin and high cash generating business in the Kenyan market, and that the transaction will increase its presence in East Africa and make Vodacom a “formidable player in financial services on the continent”.<\/p>\n

The transaction remains subject to certain regulatory approvals and conditions precedent in both Kenya and South Africa, Vodacom said.<\/p>\n

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Read:\u00a0Vodacom gets PIC backing for Safaricom acquisition<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Vodacom’s proposal to acquire a 35% stake in Kenya’s Safaricom has been given the all-clear by the group’s minority shareholders.<\/p>\n","protected":false},"author":10,"featured_media":108097,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[34],"tags":[25,5246,27],"class_list":["post-186001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mobile","tag-active","tag-safaricom","tag-vodacom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/186001","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=186001"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/186001\/revisions"}],"predecessor-version":[{"id":186003,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/186001\/revisions\/186003"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/108097"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=186001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=186001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=186001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}