LONDON—Shares in Vodafone edged higher on Monday as a surprise $4.4 billion investment from the UAE-based telecoms company e& provided a much needed but possibly short-term boost to the British firm’s CEO Nick Read.
The company previously known as Etisalat said on Saturday it had become the largest shareholder in Vodafone with a 9.8 percent stake, attracted to its management, its efforts to unlock value and a diversified currency base.
It ruled out exerting control or launching a full takeover.
Analysts were divided however over the group’s long-term plan, after activist investor Cevian and other long-standing shareholders called on Vodafone to simplify its portfolio, repair markets through consolidation, and boost returns.
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