Vodafone has announced plans to deepen its ties with United Arab Emirates telecoms group e&, which has amassed an almost 15 per cent stake in the UK operator and will now have a seat on its board.
Under a plan set out on Thursday, Hatem Dowidar, chief executive of e&, will join Vodafone’s board as the two companies said they would work together in areas including procurement and offering services to multinationals.
Dowidar will have a board seat as long as Abu Dhabi-listed e& retains its 14.6 per cent stake. If its holding climbs above 20 per cent, the group will be able to nominate a second non-executive director.
State-controlled e&’s stakebuilding began in May 2022 and comes as Vodafone faces increasing pressure to improve a performance blighted by its struggles in the German market. Vodafone’s challenges in Germany contributed to the exit of Nick Read as chief executive last year.
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