Etisalat Ups Stake In Vodafone With No Intention To Make An Offer

Emirates Telecommunications Group Co or Etisalat seeks a potential stake in Vodafone Group Plc's VOD African business.
Etisalat studied the feasibility of an offer for part or all of Vodafone's stake in Vodacom Group Ltd VDMCY, Bloomberg reports.
Etisalat also considers combining some of its own African operations with Vodacom or buying Vodacom assets in specific countries.
Vodafone owns roughly 60% of Vodacom.
Etisalat now owns 11% of Vodafone. Meanwhile, Etisalat has no intention to make an offer for Vodafone.
Also Read: Vodafone Ousts CEO Nick Read; Names CFO Margherita Della Valle As Interim Chief
Price Action: VOD shares traded lower by 1.15% at $10.73 on the last check Wednesday.
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