VODAFONE Group is exploring options for its African business as investors ramp up pressure on the UK telecom company to boost performance, people familiar with the matter said.
The London-listed firm is working with advisers to study ways to extract more value from its 65% holding in Vodacom Group., the people said, asking not to be identified as the matter is private. The early-stage considerations range from merging the business with other operators or divesting some assets in certain markets, to selling a stake in the company, the people said.
Vodacom has a market value of about $14.4-billion on the Johannesburg bourse after declining about 17% in the last 12 months. Vodafone is down almost 30% in that time period, valuing it at £26.8-billion ($32.2-billion).
While Vodafone has always seen the African unit as a core part of the group, the exercise shows that it’s willing to study a wide range of alternatives as it
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