Government strikes Vodafone agreement after UAE stake national security fears

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Government has reached an agreement with Vodafone to address national security concerns related to a United Arab Emirates-backed telecoms group’s stake in the company. Vodafone is also a particularly important company for the UK Government given its critical functions, including as a key partner in HMG’s cyber security strategy.” A Vodafone spokesman said: “We are pleased to have received clearance in our home market for our strategic relationship agreement with e& and for e& to take a seat on our board.” Abu Dhabi-listed e& has built up a stake of 14.6% in Vodafone, marking a deepening of a strategic tie-up that began in May 2022 when e& first invested in the FTSE 100 giant. “This deal would bring together two of the major players in the UK telecommunications market, which is critical to millions of everyday customers, businesses and the wider economy,” CMA chief executive Sarah Cardell said. “We now have 40 working days to complete this formal phase one investigation, before publishing our findings and any next steps.” In response to the CMA’s announcement, Vodafone UK chief executive Ahmed Essam said: “We have formally submitted our merger notice to the CMA, having worked with them closely through the pre-notification process.