Vodacom cuts dividend payouts and considers bond issue

Hanno Labuschagne

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Vodacom cuts dividend payouts and considers bond issue

Vodacom Group Ltd. is mulling a bond issue and will pay a smaller proportion of its earnings in dividends as South Africa’s market-leading wireless carrier looks to finance new growth plans.

Funds are needed to complete the acquisition of a majority stake in Vodafone Egypt — a $2.7 billion deal agreed with U.K. parent Vodafone Group Plc last year — and to pay for newly auctioned high-speed internet spectrum in its home market, chief financial officer Raisibe Morathi said in an interview on Monday.

[Bloomberg]
 
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