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Vodacom confirms sale of 6.25% stake under BEE plan (South Africa)

  • July 29th, 2008
  • 1:16 pm

Vodacom, South Africa, has confirmed the sale of a 6.25% stake worth ZAR7.5 billion (USD996 million) which is being carried out under Black Economic Empowerment (BEE) regulations. Investors include Royal Bafokeng Holdings, Thebe Investment Corp and Vodacom employees. Private investors from the black community will also be invited to buy shares.

Once the deal is completed Royal Bafokeng will hold a 1.97% interest in Vodacom, while Thebe will hold 0.84% and employees and the public will own 3.44%. Vodacom is currently a 50:50 joint venture between Vodafone of the UK and Telkom South Africa.

   

Vodacom claims of 34.6million subscribers (South Africa)

  • July 22nd, 2008
  • 1:29 pm

Vodacom has reported a 6.6% increase in subscriber numbers in the twelve months to the end of June, with the operator claiming 34.6 million customers in South Africa, Tanzania, the Democratic Republic of the Congo, Lesotho and Mozambique. The company says revenues for the quarter were up 14.5% year-on-year. Vodacom is owned by Telkom South Africa and Vodafone, though the UK group is looking to increase its stake.