Keyword → stake acquisition

Vodafone Shares Rise 12% as Xavier Niel Buys 16.2% Stake for $5.9B — Telecom Consolidation Bet Dethrones e&

Vodafone Group shares jumped 12% Friday after French telecom billionaire Xavier Niel's Vega vehicle agreed to acquire Emirates Telecommunications Group's entire 16.2% stake in Vodafone for £4.4 billion, or $5.91 billion, at 112.5 pence per share. The deal makes Niel the largest single shareholder in Britain's biggest mobile operator and is seen as a signal of renewed European telecom consolidation interest. VOD stock hit a high of 110 pence in London before settling, with ADR shares surging on US markets.