South African mobile operator Vodacom is looking at making a bid for the government’s 13.9% stake with a view to meeting Black Economic Empowerment (BEE) requirements, BusinessLIVE reports.
According to BEE rules, the operator must have 30% of Black…
South African mobile operator Vodacom is looking at making a bid for the government’s 13.9% stake with a view to meeting Black Economic Empowerment (BEE) requirements, BusinessLIVE reports.
According to BEE rules, the operator must have 30% of Black investors in its shareholding.
CEO Pieter Uys has reportedly met South Africa’s communications minister Roy Padayachie to discuss the government’s stake, which is worth about R16.5bn (E2.4bn). But the talks were reportedly not directly on the sale of the stake.
Vodacom, which is listed on the South African stock exchange, is controlled by Vodafone, which holds a 65% stake.
