|Bid||13,610.00 x 0|
|Ask||14,100.00 x 0|
|Day's range||13,684.00 - 13,944.00|
|52-week range||12,178.00 - 15,144.00|
|Beta (5Y monthly)||0.21|
|PE ratio (TTM)||1,502.38|
|Earnings date||15 Nov 2021|
|Forward dividend & yield||8.40 (6.22%)|
|Ex-dividend date||01 Dec 2021|
|1y target est||148.60|
CAIRO, JOHANNESBURG (Reuters) -South Africa's Vodacom Group Ltd said on Wednesday it would buy a 55% stake in the Egyptian arm of parent Vodafone Group Plc for $2.74 billion, as it looks at consolidate its presence on the continent and boost profit. Vodacom had been vying with African rival MTN Group for market share as the continent's people and businesses demand higher speeds and better connectivity to access financial services, entertainment, education and enterprise solutions, especially spurred by the coronavirus pandemic. "The proposed acquisition presents a unique opportunity to advance Vodacom Group's strategic connectivity and financial services ambitions in Africa," Vodacom said in a statement.
South Africa's two biggest mobile operators, MTN and Vodacom, have joined number three Telkom in a lawsuit to stop the regulator withdrawing temporary frequency spectrum assigned at the start of the COVID-19 outbreak. The temporary spectrum allowed the operators to deliver faster connectivity to customers to meet a surge in data demand as large numbers of people shifted last year to working and studying from home. MTN and Vodacom have also used the temporary frequencies to launch 5G networks.