Vodafone shares up 12% as Xavier Niel becomes shareholder

Shares of Vodafone Group surged more than 12% in trading on Friday, July 10, 2026, following the announcement that French telecoms billionaire Xavier Niel will become the company's largest shareholder. The jump came after United Arab Emirates-based Emirates Telecommunications Group, known as e&, agreed to sell its entire stake in the British telecom giant to Niel's investment vehicle, Vega.

The binding agreement values the transaction at approximately 4.4 billion pounds, equivalent to about 5.9 billion dollars. Vega will acquire e&'s roughly 16.2% holding at a price of 112.5 pence per share, representing a 15% premium to Vodafone's closing price on Thursday. The deal is subject to regulatory approvals, after which Niel will become Vodafone's biggest shareholder.

Vodafone confirmed the transaction in a statement, noting that the relationship agreement with e& has been terminated and that Hatem Dowidar, e&'s board representative, has resigned with immediate effect. Niel described Vodafone as a compelling investment opportunity underpinned by quality assets and a diversified geographic footprint. He stated that as a simpler, more focused business, Vodafone is ready for a new phase...