Xavier Niel To Buy e& Stake in Vodafone, Becoming Largest Shareholder

Vodafone Group said French billionaire telecoms entrepreneur Xavier Niel has reached a final agreement to acquire all Vodafone shares held by UAE telecoms group e& via his investment vehicle Vega, according to 36Kr. After the transaction closes, Niel will hold a 16.2% stake in Vodafone, making him the companys largest shareholder. Vodafone shares surged in London trading, rising as much as 14% intraday.