Sarin seeks to control, not own, Vodacom
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Vodafone could take control of Vodacom, South Africa’s leading mobile operator, for far less than the $10bn-$11bn previously mooted by analysts, its chief executive indicated on Wednesday.
Arun Sarin told a conference in New York that Vodafone would not be interested in buying all of the 50% stake in the joint venture it does not already own. Vodafone wanted to secure control of Vodacom, he said. Telkom, SA’s largest telecoms group, would decide what to do with its 50% stake in Vodacom by the end of the year, Mr Sarin told the FT. He also said Vodacom could become a centre for expansion elsewhere in Africa.
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