Page 28 - SAMENA Trends - May-June 2022

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

across the globe and can be downloaded including bill payments through eWallet. the creation of a resilient business model
via Android and iOS app stores. The app GoChat Messenger also offers customers representing the Group’s main business
offers unique features making it an all- trustworthy and reliable home services pillars. The telecoms business currently
encompassing app for life in the UAE. including home cleaning, PCR at home, continues to be led by etisalat by e& in e&’s
With GoChat Messenger, customers will salon at home as well gifting services at home market and by existing subsidiaries
remain up to date with the latest news their fingertips. Lastly customers can also for e& international, upholding the Group’s
and events in the country whilst staying access selected Smiles vouchers and deals rich telecoms heritage, bolstering the
entertained with free-to-play games as directly through GoChat messenger. strong telecoms network and maximising
an embedded feature. It also aspires to Etisalat Group has changed its brand identity value for the Group’s various customer
making customers’ lives easier, offering to e&, effective from 23 February 2022. Its segments.
international and local money transfers, strategy aims to accelerate growth through Ramping up the digital services for
individual customers to elevate their digital-
first lifestyle, e& life brings next-generation
technologies through smart connectivity
platforms in entertainment, retail and
financial technology. To enable the digital
transformation of governments, large-scale
enterprises and corporates, e& enterprise
focuses on maximising value through
its end-to-end solutions in cybersecurity,
cloud, Internet of Things (IoT) and Artificial
Intelligence (AI), as well as deploying mega
projects. e& capital allows the Group to
focus its efforts on driving new mergers and
acquisitions while maximising shareholder
value and strengthening global presence.

e& Buys 9.8% Stake in Vodafone for US$4.4 Billion

The UAE telco e& (formerly Etisalat) said attractive valuation with strong currency critical connectivity and digital services."
it bought a 9.8 per cent stake in Vodafone diversification benefits.” With this deal, “We are looking forward to building a
Group Plc for $4.4 billion as the Middle the UAE telco major may also partner with mutually beneficial strategic partnership
Eastern telecommunications provider Vodafone in the areas of R&D, technological with Vodafone with the goal of driving value
seeks to expand globally. e& offered applications and procurement. Hatem creation for both our businesses, exploring
about 130 pence ($1.59 dollars) a share, Dowidar, Group CEO of e&, said: "Vodafone opportunities in the rapidly developing
according to Bloomberg calculations. is one of the leading businesses at the heart global telecom market and supporting the
That's a premium of about 10 per cent to of digital communications in Europe and adoption of next-generation technologies,"
Vodafone's 117.82 pence closing price. Africa with a compelling business offering he added.
The purchase makes e& Vodafone's
largest shareholder, ahead of BlackRock,
the Vanguard Group, and HSBC Holdings.
The UAE telco plans to remain a long-term
investor and won't make an offer for the
rest of Vodafone shares, e& said in a stock
exchange statement. e& has "made the
investment in Vodafone to gain significant
exposure to a world leader in connectivity
and digital services" and aims to develop
opportunities for commercial partnerships,
it said. "As a geographically diversified
company with a deep understanding of
the global telecom sector, e& sees this
investment as highly efficient use of its
strong balance sheet at a compelling and

28 MAY-JUNE 2022