Vodacom to Buy Indirect 34.94% Stake in Safaricom From Vodafone

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Vodacom to buy 34.94% indirect interest in Safaricom from Vodafone by acquiring 87.5% of issued share capital of Vodafone Kenya; Vodafone will also subscribe for new Vodacom shares.

* Purchase consideration payable is sum of amount equal to subscription price payable by Vodafone for 226.8m new ordinary Vodacom shares, offset against same amount of purchase consideration & maximum amount of KES393.75m payable to Vodafone in cash;
* Subscription price amounts to 34.6b rand based on Vodacom’s share price on May 12. Source: Bloomberg

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