Briefs: Vodafone seen raising S. Africa stake

Nov 03, 2005

Vodafone is planning to bolster its stake in South Africa's Vodacom, a newspaper report said Thursday.

The Financial Times reported that the British mobile-phone giant will be spending up to $2.4 billion in an attempt to boost its presence in Africa. The daily said that Vodafone plans to increase its shareholding in Vodacom to 50 percent.

Vodafone first invested in the South African company in 1993.

Copyright 2005 by United Press International

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