Vodafone To Sell 5.2% Of Vodacom To Meet Minimum Free Float
September 05 2017 - 11:12AM
Dow Jones News
LONDON-- Mobile telecommunications company Vodafone Group PLC
(VOD.LN) Tuesday said it plans to sell around 5.2% of the shares in
its African offshoot Vodacom Group Ltd (VOD.JO) to enable Vodacom
to meet the minimum 20% free float requirement imposed by the
Johannesburg Stock Exchange.
Vodafone, which recently increased its holding in Vodacom to
69.7% from 65% and said it expects Vodacom's free float to fall to
around 18% as a result, said it will place around 90 million shares
in Vodacom.
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
(END) Dow Jones Newswires
September 05, 2017 11:57 ET (15:57 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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