|
|
Vodacom - acquisition of Safaricom interest update
Shareholders are referred to the announcements regarding Vodacom’s agreement to acquire (“Acquisition”) an effective 20% interest, 15% from the Government of Kenya (“GoK”) and 5% from Vodafone International Holdings BV (“Vodafone”), via Vodafone Kenya Ltd. (“VKL”), in the issued share capital of Safaricom PLC (“Safaricom”).
As previously communicated, following the completion of the Acquisition on 30 June 2026, the High Court of Kenya delivered a judgment on 15 September 2026 relating to a petition challenging certain aspects of the Acquisition. Vodacom and the other affected parties subsequently filed a notice of appeal against the judgment and applied to stay the matter pending the determination of the appeal.
On 13 October 2026, the application for a stay order in relation to Vodacom’s transaction to acquire a controlling stake in Safaricom came before the Court of Appeal (Nairobi). The Court decided not to determine the application but instead recorded to fast-track the substantive appeal. The prevailing status quo in respect of the shares and purchase consideration shall be maintained pending the hearing of the appeal. The effect of the order is that VKL remains the registered holder of the Safaricom shares acquired from GoK on 30 June 2026, and the corresponding purchase consideration paid to GoK is to be preserved, pending the hearing of the appeal.
|
|
Click here for original article
|
| |
| |
| Click here for full news archive for this company |
|
| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
| |
|
|
