French billionaire Xavier Niel is set to become the largest shareholder in Vodafone following the acquisition of a 16.21% stake valued at approximately £4.4 billion. His family investment vehicle, Vega, purchased the shares from Emirates Telecommunications Group Company (E&), a major United Arab Emirates-based telecom operator.

Niel, founder and controlling shareholder of the Iliad Group, has a significant presence in the telecommunications sector across France, Italy, and Poland. Iliad had previously pursued a deal to acquire Vodafone’s Italian operations three years ago, proposing a bid of around £9 billion, but that attempt did not materialize. Niel’s broader telecom portfolio spans 26 countries, with minority stakes in companies such as Sweden’s Tele2 and Latin America's Millicom.

According to recent Forbes estimates, Niel and his family’s net worth stands at an estimated £11.6 billion. Commenting on the investment, he described Vodafone as a “compelling investment opportunity,” highlighting the company’s strong assets, well-established brands, and diverse geographic footprint across Europe and Africa. He added that Vodafone was positioned for a new phase of growth as a more focused business aiming to unlock value in its key markets.

This move coincides with a strategic restructuring at Vodafone under the leadership of CEO Margherita Della Valle, who has been steering the company toward concentrating on its core markets in Germany, the United Kingdom, and Africa. Under her direction, Vodafone has been divesting from countries where its market presence is limited, reflecting an effort to streamline operations and improve performance.

The acquisition marks a significant development in Vodafone’s shareholder landscape and underscores Niel’s expanding influence in the global telecommunications industry.