{"id":196800,"date":"2017-09-06T08:57:59","date_gmt":"2017-09-06T06:57:59","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=196800"},"modified":"2017-09-06T11:04:26","modified_gmt":"2017-09-06T09:04:26","slug":"vodafone-is-selling-a-5-2-stake-in-vodacom","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/mobile\/196800\/vodafone-is-selling-a-5-2-stake-in-vodacom\/","title":{"rendered":"Vodafone is selling a 5.2% stake In Vodacom"},"content":{"rendered":"<p>Vodafone plans to sell approximately 90 million ordinary shares (5.2%) in Vodacom to institutional investors by way of an accelerated bookbuild process.<\/p>\n<p>Following <a href=\"https:\/\/mybroadband.co.za\/news\/business-telecoms\/210678-vodacom-acquires-34-94-indirect-stake-in-safaricom.html\" target=\"_blank\" rel=\"noopener\"><strong>Vodacom\u2019s recent acquisition of a 35% interest in Safaricom<\/strong><\/a>, Vodafone increased its ownership in Vodacom from 65.0% to 69.7%.<\/p>\n<p>At the time of the deal, it was expected that Vodacom\u2019s free float would decline to approximately 18%.<\/p>\n<p>As part of the Safaricom transaction, Vodafone committed to Vodacom that it would sell a sufficient number of shares to ensure that Vodacom will meet the 20% minimum free float requirement on the JSE.<\/p>\n<p>The move will also restore Vodafone\u2019s shareholding in Vodacom to a percentage that is similar to what it held prior to the Safaricom transaction.<\/p>\n<p>\u201cVodafone remains committed to Vodacom and intends to retain a controlling majority shareholding in Vodacom for the long term,\u201d the operator said.<\/p>\n<p>Vodacom issued the following statement on Wednesday:<\/p>\n<blockquote><p><em>&#8220;Vodacom has been informed by its majority shareholder, Vodafone Group Plc, that it has sold 90 million ordinary shares in Vodacom at R165 per share to institutional investors through an accelerated book-build process. <\/em><\/p>\n<p><em>&#8220;This equates to 5.2% of Vodacom\u2019s share capital and values the 90 million tranche at R14,85 billion.<\/em><\/p>\n<p><em>&#8220;The placement ensures that Vodacom meets the JSE\u2019s free float requirement of more than 20%. Vodacom obtained a temporary dispensation from the JSE to dip below this level to facilitate its circa R35 billion purchase of a 35% stake in Safaricom from Vodafone. <\/em><\/p>\n<p><em>&#8220;Yesterday\u2019s placement means that Vodafone\u2019s shareholding in Vodacom has been restored to levels that are broadly similar to the 65% it held ahead of the Safaricom transaction.<\/em><\/p>\n<p><em>&#8220;In a regulatory announcement in the UK yesterday, Vodafone said it \u201cremains committed to Vodacom and intends to retain a controlling majority shareholding in Vodacom for the long-term.\u201d<\/em><\/p>\n<p><em>&#8220;Following yesterday\u2019s placement, Vodafone holds a circa 64.5% stake in Vodacom.&#8221;<\/em><\/p><\/blockquote>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/mobile\/190942\/vodacom-finalises-r35-billion-safaricom-transaction\/\" target=\"_blank\" rel=\"noopener\">Vodacom finalises R35 billion Safaricom transaction<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vodafone plans to sell approximately 90 million ordinary shares (5.2%) in Vodacom to institutional investors by way of an accelerated bookbuild process.<\/p>\n","protected":false},"author":31,"featured_media":49246,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[27,737],"class_list":["post-196800","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mobile","tag-vodacom","tag-vodafone"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/196800","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\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=196800"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/196800\/revisions"}],"predecessor-version":[{"id":196856,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/196800\/revisions\/196856"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/49246"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=196800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=196800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=196800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}