South Africa: PIC to offload part of its Vodacom stake
The Public Investment Corporation has appointed Deutsche Bank AG, London Branch as sole bookrunner to sell 25 million ordinary shares in Vodacom Group Limited 0.27% .
This placement is in relation to a hedging activity in respect of certain risk mitigation arrangements entered into by Merrill Lynch.
The sale represents approximately 1.7 per cent of the company’s issued share capital.
Source: CNBC Africa 14 July 2015