UAE’s e& and Vodafone Group have agreed to a strategic relationship that will bring the two operators closer together in certain aspects of their businesses.
As part of this strategic relationship, e& and Vodafone have entered into a relationship agreement that establishes e& as a cornerstone shareholder of Vodafone.
This is the next phase in a strategic relationship that began in May 2022, when e& made its original investment in Vodafone.
Hatem Dowidar CEO – e&
“Our investment in Vodafone is anchored by Vodafone Group’s established position and worldwide reputation as a prominent industry player that provides cutting-edge connectivity and digital services. This aligns with e&’s vision of becoming a global telecom and technology player. We extend a warm welcome to Margherita Della Valle as Vodafone’s newly appointed Group Chief Executive Officer, and we have full confidence in her leadership abilities to steer the company toward growth. We are convinced that our strategic relationship will unlock opportunities for both companies to explore the swiftly expanding global telecom market and next-generation technologies.”
The strategic relationship also enables collaboration across a broad range of growth areas, as e& and Vodafone may benefit from each other’s respective operational scale and complementary geographic footprint.
According to the statement, “In Procurement, e& and Vodafone will seek to share best practices and may adopt joint procurement. Also, in Carrier, Wholesale & Roaming, the two operators will collaborate to become the partner of choice in providing access to high-quality digital infrastructure.”
Under the terms of the Relationship Agreement, the Group Chief Executive Officer of e& will join the Vodafone Board as a non-executive Director (e& Nominee), for as long as e& maintains its current shareholding of 14.6 percent.
“e& will also have the ability to nominate a second non-executive Director (the Independent Nominee), independent of e&, if its shareholding exceeds 20 percent (subject to certain adjustments while regulatory approvals are outstanding). These appointments are subject to receipt by e& of the required regulatory approvals,” as per the statement.
Ms. Margherita Della Valle, Vodafone Group Chief Executive, said that, “We know e& well, and I’m delighted we will strengthen our existing relationship through this strategic relationship. This will allow us to capture efficiency-enhancing opportunities in our respective markets and brings additional telecoms experience to our Board.”
