• Caught in the debt trap?

    Help us help you by taking our second annual Debt survey and you could win R3 000.

  • Rich man, poor man

    Culture change from below is the only way to overcome poverty, says Leopold Scholtz.

  • Tech bubble talk

    After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.

Data provided by McGregor BFA
All data is delayed
Loading...
See More

Vodacom added to JSE Top-40

May 14 2009 10:34

Related Articles

Vodacom listing going ahead

Blow to Vodacom listing

Bid to stop Vodacom deal delayed

Vodacom delays listing

Move to halt Vodacom deal

Vodacom restructures data offering

 

Johannesburg - South Africa's largest mobile phone operator Vodacom Group will be added to the JSE Top-40 index of blue chips, the JSE said on Thursday.

The JSE said Vodacom will be added on the Top-40 index on May 18, with more than 525 million shares in issue. It added that Telkom, Africa's largest telecoms firm, would remain in the index.

Vodacom is to be floated on the JSE on May 18 after joint owner Telkom distributes a 35% stake to shareholders and finalises a $2.6bn deal to sell a further 15% to Britain's Vodafone.

The listing, one of the biggest on the Johannesburg bourse in years, will give Vodafone a 65% stake in Vodacom and end a shareholder pact that restricted it to operations only in southern Africa.

Telkom shareholders will get one Vodacom share per Telkom share, and its biggest investor, the South African government, has vowed to hold a 10% stake for at least a year.

Vodacom runs mobile networks in five African countries and bought Gateway Communications last year to beef up its data business, but has struggled to keep pace with the rapid expansion of rival MTN into Africa and the Middle East.

- Reuters

NEXT ON FIN24X

Cheese champions honoured

29 minutes ago

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Ramphele: ANC can be defeated

The African National Congress can be defeated, Agang SA leader Mamphela Ramphele has told supporters in Temba near Hammanskraal.

 
 

Latest elections multimedia

Watch what happened when we blindfolded Helen Zille and asked her to eat random things
13 days to elections - news you need to know
11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...