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UK says Emirates stake in Vodafone poses national security risk
World News
2024-01-25 | 08:45
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UK says Emirates stake in Vodafone poses national security risk
Emirates Telecommunications opens a new tab stake in Vodafone. Britain said that the new tab is a national security risk concerning the British company's government contracts, adding that Vodafone should take steps to manage the risk.
In a statement published online on Jan. 24, Britain said Vodafone should establish a national security committee to oversee sensitive work that could impact the country's national security and meet requirements relating to its board members.
Vodafone did not immediately have a comment on the government statement.
The Emirates group, also known as e&, is Vodafone's biggest shareholder, with a holding of around 14 percent.
Vodafone said in May that e&'s chief executive Hatem Dowidar would join its board as the two companies agreed to deepen their strategic relationship.
E&, which operates in 16 countries across the Middle East, Asia, and Africa, has built up its stake in Vodafone since an initial investment in May 2022.
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