The Clap
Sources state that Vodafone will acquire another 10% stake in Bee and Masary, & will stick to the agreed stakes of 20% in each of the two companies.
Backstory
Last year, Vodafone signed a Memorandum of Understanding (MoU) with Ebtikar, owner of Bee and Masary, to acquire a 20% stake in each of the two companies, through participating in both companies’ capital increase.
Vodafone just acquired a 9.99% stake in each of the two companies.
The deets
The director of investor relations at B Investments, Omar Al-Labban, stated that Vodafone’s acquisition of a 10% stake in both Bee and Masary is not the story’s end.
Why this matters
Vodafone seeks to spread its “Vodafone Cash” service by taking advantage of Bee and Masary’s widespread Points of ٍSale (POS).
