UK says Emirates stake in Vodafone poses national security risk

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25-01-2024 | 07:45
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UK says Emirates stake in Vodafone poses national security risk
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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.

Reuters
 

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