Vodacom Reportedly To Sell Stake To Black Investors
January 26, 2017 at 12:00 am EST
Vodacom Group Limited (JSE:VOD) is reportedly selling 12.47% stake of a ZAR15 billion to bolster black empowerment in the local economy, according to two people familiar with the matter. The transaction envisions Vodacom buying back a 12.47% stake from Public Investment Corporation Limited. Vodacom adds that as a subsequent part of the plan, it would consider listing the shareholding via a separate vehicle open only to black investors. One unnamed source claimed that talks with PIC are ongoing and a deal could come in the next few months.