Vodafone Kenya Limited has agreed to purchase a 15.0 percent stake in Safaricom Plc from the government of Kenya for Kes 34 per share, representing a total consideration of 204.3 billion Kenyan shillings (approximately 1.6 billion US dollars). The transaction involves the acquisition of 6,009,814,200 ordinary shares, according to a company statement.

The move forms part of a broader internal reorganisation by Vodacom Group Limited, which will increase its holding in Vodafone Kenya to 100 percent from 87.5 percent through the purchase of shares held by Vodafone International Holdings B.V. The reorganisation will result in Vodafone Kenya acquiring an indirect 4.99 percent stake in Safaricom.

Following completion of the transactions, Vodafone Kenya will hold a 55.0 percent stake in Safaricom, consolidating its majority position. The deal also includes an agreement for Vodafone to purchase the right to receive future Safaricom dividends, with an upfront payment of 40.2 billion Kenyan shillings (around 309 million US dollars) to the government.

Vodafone Kenya clarified that it does not intend to launch a take-over offer for Safaricom.