StockMarketWire.com - Vodafone Group said its shareholding in South Africa's Vodacom would fall to around 60.5% amid moves intended to support incremental black economic empowerment and ownership of the telecom company.

Vodacom's black economic empowerment, or BEE, ownership would move from Vodacom South Africa to Vodacom Group.

Vodacom would increase its ownership of Vodacom South Africa to 100%, up from 93.75%, and issue new Vodacom Group shares to its BEE investors, diluting existing Vodacom Group shareholders on a proportionate basis.

Consequently, it was expected that Vodafone's shareholding in Vodacom would fall to 60.5%, down from 64.5%.

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