Vodafone’s Top Backer E& Discusses Board Changes and Ups Stake
- Abu Dhabi carrier in talks about composition of Vodafone board
- Emirates group known as e& increased Vodafone stake to 14.6%
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Vodafone Group Plc’s biggest shareholder, Emirates Telecommunications Group Co., has opened talks with the troubled British telecom group to push for changes on its board.
The investor, also known as e&, began discussions with Vodafone on April 12 about the non-executive directors in order to engage “on a variety of topics,” it said in a regulatory filing late Monday. The Abu Dhabi-based company, which is majority owned by the United Arab Emirates’s sovereign wealth fund, now owns 14.6% of Vodafone, up from 14%.