The telecoms company e& (EAND.AD), located in the United Arab Emirates, boosted its ownership in Vodafone to 14% while maintaining the same goal as when it purchased a 9.8% share in May 2022: to “improve and grow its worldwide portfolio.”
Since e& initially invested, Vodafone’s shares have dropped 15%.
The London-listed company has battled to improve its performance in three of its four largest European regions, leading to the chief executive’s resignation in December.
Liberty Global purchased a nearly 5% interest in Vodafone last month, calling it an opportunistic investment and promising not to seek a board seat or takeover.
Liberty Global CEO Mike Fries said Vodafone’s share price didn’t represent its value and consolidation potential.
In September, Xavier Niel purchased 2.5% of Vodafone.
In December, Read volunteered to assist Vodafone’s board with the strategy.
Vodafone shares increased 0.8% early Tuesday.
