November 14, 2018 / 4:47 PM / a month ago

Vodacom Tanzania approves sale of 26 pct stake to South Africa's Vodacom Group

DAR ES SALAAM, Nov 14 (Reuters) - Vodacom Tanzania shareholders on Wednesday approved the sale of a 26 percent stake owned by Mirambo Holdings Ltd to South Africa’s Vodacom Group.

Shareholders approved the transaction during an extraordinary annual general meeting in Tanzania’s commercial capital, Dar es Salaam.

“What we did today is just part of the required approval for the deal and this does not mean the deal is done, there are other authorities that need to approve it too, Ali Mufuruki, Vodacom Tanzania’s chairman said.

Mirambo Holdings is the investment vehicle of Tanzanian business tycoon Rostam Aziz. (Reporting by Nuzulack Dausen; Writing by Omar Mohammed; Editing by Kirsten Donovan)

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