Vodafone shares boost as UAE telecoms firm buys 9.8% stake     

Vodafone shares boost as UAE telecoms firm buys 9.8% stake     

Vodafone shares are up as e& buys nearly 10% stake in the company.

Shares in Vodafone edged higher on Monday as a surprise $4.4bn investment from the UAE-based telecoms company, e&, provided a much-needed but possibly short-term boost to Vodafone's CEO Nick Read.

E&, which was previously known as Etisalat, said it had become the largest shareholder in Vodafone with a 9.8% stake. It said it was attracted to its management and its efforts to unlock value and a diversified currency base. 

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