Safaricom chief executive officer Bob Collymore. FILE PHOTO | NMG
South African telecoms operator Vodacom
Group said on Friday its second biggest shareholder, the Public
Investment Corporation (PIC), will vote in favour of its $2.67 billion
takeover of Kenya's Safaricom
.
The PIC, which includes the Government Employees Pension Fund, holds a 15.63 per cent interest in Vodacom Group.
UK-based
group Vodafone moved to consolidate two of its African interests in May
with the sale of a 35 per cent stake in Kenya's Safaricom to Vodacom in
exchange for an increased stake in the South African company where it
is already majority owner.
"In
its letter of support, the PIC has undertaken to vote in favour of the
resolutions required to implement the proposed transaction at the
general meeting to be convened by Vodacom Group," the company said in a
statement.
The PIC was not available for immediate comment.
No comments :
Post a Comment