For all its size, mobile telephone giant, Vodacom, has only a measly 3.4% black shareholding. But this is set to change soon following the Public Investment Corporation’s move to sell its 15% stake in the company to a consortium of black investors, PIC Chief Executive, Dan Matjila, has disclosed.
“We’d be happy if the shares are in the hands of black investors,” Matjila said. “It will enhance the transformation profile of Vodacom.”
The sale would be the fillip Vodacom needs to impress the Department of Trade and Industry and other government entities that it is committed to economic transformation.
The impending sale follows the sale of its 14% stake for about R25bn to raise funds for the cash strapped power utility provider, Eskom.
