Dubai: UAE telecoms group e& is selling its entire investment in Vodafone Group for $5.95 billion, bringing an end to one of its largest international shareholdings after a review of its global portfolio.The Abu Dhabi-listed company said it had signed a binding agreement with Vega, an acquisition vehicle wholly owned by the Niel family group, to divest nearly 3.95 billion Vodafone shares.The holding represents about 16.21% of Vodafone’s issued share capital and 17.13% of its voting rights.The deal values the shares at 112.5 pence each, comprising about 110.5 pence in cash from the buyer and Vodafone’s final financial year 2026 dividend of 2.02 pence per share.The dividend is due to be paid on July 30.Deal to generate Dh21.8 billionThe transaction is expected to generate cash proceeds of about Dh21.8 billion, equivalent to $5.95 billion, including the final dividend.e& expects to record a net cash return of approximately Dh4.7 billion, or $1.3 billion, from the sale.The shares will initially be transferred through off-market block trades to three financial institutions, which will hold them until Vega completes the required regulatory procedures.Board representative steps downe& has also terminated its relationship agreement with Vodafone, while its representative on the British telecoms company’s board has stepped down as a non-executive director.The sale follows a comprehensive review of e&’s international investment portfolio and marks its full exit from Vodafone.Nivetha Dayanand is Assistant Business Editor at Gulf News, where she spends her days unpacking money, markets, aviation, and the big shifts shaping life in the Gulf. Before returning to Gulf News, she launched Finance Middle East, complete with a podcast and video series.