Vodacom completes Safaricom stake deal and raises growth targets

Vodacom Group reported higher first-quarter revenue and service revenue and said it completed the acquisition of a controlling stake in Safaricom.

TL;DR

• Vodacom Group said first-quarter revenue and service revenue increased.
• The company attributed the result to Egypt, its international operations and financial services.
• Vodacom said it completed the acquisition of a controlling stake in Safaricom.
• Vodacom raised its growth targets after the transaction closed.

Vodacom Group said its first-quarter revenue and service revenue increased, according to the company update cited by Developing Telecoms. The company said Egypt, its international operations and financial services supported the quarter's performance.

Vodacom Group said it completed the acquisition of a controlling stake in Safaricom. The report did not state the size of the stake, the transaction value or the completion date in the provided excerpt.

Vodacom Group said it upgraded its growth targets after completing the Safaricom transaction. The provided source excerpt did not include the revised target figures or the previous guidance levels.

Related questions

• What did Vodacom say drove its first-quarter revenue growth?
• Which company did Vodacom acquire a controlling stake in?
• Did the provided report include Vodacom's revised growth target figures?