e& increases stake in Vodafone UK

Emirati telecoms provider is Vodafone's largest shareholder
e& increases stake in Vodafone UK

e& announced on Wednesday that it had increased its stake in Vodafone Group to 11 percent, but said it did not plan to make an offer to the British telecommunications group.

The Emirati telecoms provider is Vodafone’s largest shareholder, which previously had a stake in the British company at around ten percent.

Vodafone announced on Monday that its chief executive Nick Reed would leave his post at the end of the year.

Vodafone’s stock has lost more than 20 percent of its value since the start of the year and has almost halved during Reid’s tenure.