Vodafone to acquire majority stake in Safaricom, gaining control of African telecoms and fintech business.

Vodafone Group's African subsidiary, Vodacom, has agreed to acquire a 20% stake in Safaricom Plc, Kenya's leading telecoms operator, for a cash consideration of €1.36 billion. The acquisition will take Vodacom's stake in Safaricom to 55%, with the Government of Kenya owning 20% and public investors owning 25%. Following completion, Safaricom will be consolidated by both Vodacom and Vodafone.