Vodacom stake worth R6 billion for sale

A stake in Vodacom worth R6 billion is back up for sale, according to a report by Bloomberg.

The sale follows the collapse of a deal in May that was “aimed at increasing black ownership of the phone carrier”.

The Vodacom stock is being sold by the Public Investment Corporation. This is according to “people familiar with the negotiations”.

The stake is around 2.6% of Vodacom, stated the report.

“The PIC is in talks with a number of black investors,” said Chief Executive Officer Dan Matjila.

One of the potential buyers is a group that includes Vodacom Chairman Peter Moyo, stated the report.

“Vodacom is currently 18.7% owned by black investors, compared with 39% at MTN.

Now read: Massive crime syndicate has infiltrated Vodacom

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Vodacom stake worth R6 billion for sale