UAE telecoms group confirms £3.3bn raid on Vodafone
by Sarah Butler from World news | The Guardian on (#5Z8RC)
State-controlled e&, formerly known as Etisalat, is now UK mobile phone company's biggest shareholder
A Middle Eastern telecoms group has taken a near-10% stake in Vodafone as the UK mobile phone company comes under pressure for a business shake-up.
The state-controlled Emirates Telecommunications Group, which recently rebranded from Etisalat to e&, is now Vodafone's biggest shareholder after confirming a 3.3bn raid on the UK group on Saturday.
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