majority share 160232989 Vodacom billboard in Johannesburg. Photo: Nadine Hutton/Bloomberg/Getty
Vodacom propose the purchase of a 34.94 percent indirect stake in Safaricom. Photo: Nadine Hutton/Bloomberg/Getty

Vodacom Shareholders Vote In Favor Of Safaricom Majority Share Acquisition

By Peter Pedroncelli, 5:14 am

SA telecommunications giant Vodacom’s minority shareholders voted in favor of plans to acquire a majority share in Kenya’s largest company, Safaricom. The shareholders voted at the telecoms company’s annual general meeting, with 99.59 percent voting in support of the resolution, while only 0.40 percent were against the acquisition. In May Vodacom proposed the purchase of a 34.94 percent indirect stake set to be bought from the Kenyan government.

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