Vodafone to Push Stake In Vodacom to Majority

Vodafone Group PLC, the world's largest mobile-phone operator by revenue, said it will take majority control of South Africa's Vodacom Group Ltd. in a 22.5 billion rand ($2.31 billion) deal that sets Vodafone up for further acquisitions in Africa. The UK company, which owns 50% of Vodacom, will buy a further 15% interest from venture partner Telkom SA, bringing its stake to 65%. It also will take on Vodacom debt of roughly 1.55 billion rand. With mobile-phone penetration rates in Africa among the lowest in the world, phone companies have increasingly been looking to the continent for customer growth. MTN Group, Africa's largest operator with businesses in 21 countries, has led the charge and earlier this year attracted merger offers from two Indian operators.