Dubai The new major shareholder e& from the United Arab Emirates can imagine joint investments with the British mobile operator. If it makes sense to come on board as a partner, that will be considered, said the head of the conglomerate, Hatem Dowidar.
They joined Vodafone because they think the company is currently undervalued. e& recently acquired a stake of almost ten percent in the British for $ 4.4 billion. In the future, both companies want to work together in purchasing, but also in research and development.
Etisalat, known under the e& brand, is run by Vodafone veteran Hatem Dowidar. The company’s entry from the Gulf comes at a time when Vodafone management is under intense pressure from shareholders. Cevian, Europe’s largest activist investor, is pushing to drive consolidation of European business, divest from divisions and improve returns.