French billionaire Xavier Niel will become the main shareholder of Vodafone. The deal amounts to approximately 6 billion dollars.

French billionaire Xavier Niel is set to become the largest shareholder of the Vodafone Group, after the telecommunications group from the United Arab Emirates, Etisalat, agreed to sell its entire stake in Vodafone for approximately 6 billion dollars. The transaction will allow Niel, an active player in the telecommunications sector in Europe, to hold a 16.2% stake in Vodafone, through the acquisition vehicle Vega, owned by his family.

Vodafone has recently undergone a restructuring process, withdrawing from the markets in Spain and Italy and focusing on Germany, the United Kingdom, and Africa, including the completion of the merger with Three UK, which created the largest mobile phone operator in the UK. Vega will become the main shareholder of Vodafone after the completion of the transaction and obtaining the necessary approvals.