Vodafone, E& Form Strategic Relationship
May 11 2023 - 3:09AM
Dow Jones News
By Kyle Morris
Vodafone Group said Thursday that it and Emirates
Telecommunications Group--known as E&--have agreed on a
strategic relationship that will see the latter become a
cornerstone shareholder in the U.K. telecoms company.
The relationship will enable collaboration in a range of areas,
including cross-border digital services, fixed and mobile
connectivity, procurement roaming, Vodafone said.
The E& chief executive will join the Vodafone board as a
nonexecutive director as long as E& maintains its current
shareholding of 14.6%, it said. E& will also have the ability
to nominate a second nonexecutive director if its shareholding
exceeds 20%, Vodafone said.
"We know E& well and I'm delighted we have strengthened our
existing relationship through this strategic partnership . This
closer alignment allows us to capture opportunities in our
respective markets and brings additional telecoms experience to our
board," Vodafone Chief Executive Margherita Della Valle said.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
May 11, 2023 02:54 ET (06:54 GMT)
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