Vodafone’s biggest shareholder UAE’s e& ups stake to 14%

LONDON: United Arab Emirates-based telecoms group e& has increased its stake in Vodafone to 14%, saying its rationale was unchanged from May 2022 when it bought a 9.8% stake to “enhance and develop its international portfolio”.

Vodafone’s shares have fallen 15% since e& first invested, as the London-listed group has struggled to improve weak performance in three out of its four biggest European markets, resulting in the departure of its chief executive in December.