LONDON: Shares in Vodafone jumped 4% in early trade on Monday after the United Arab Emirates-based telecoms company e& revealed it had bought a 9.8% stake in the British mobile operator.
Vodafone has been struggling in its more mature markets where competition and regulation have pushed prices lower, and its boss Nick Read is under pressure to boost returns.
E&, formerly known as Emirates Telecommunications Group, said it had made the investment to gain "significant exposure to a world leader in connectivity and digital services", adding it had no intention of making an offer for the whole of Vodafone.
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