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South Africa’s Vodacom Group said on Monday it will increase the stake held by black shareholders by up to 6.25 percent in a 17.5 billion rand ($1.34 billion) black empowerment transaction.
Vodacom said current black shareholders in Vodacom South Africa and a newly formed staff scheme will exchange their current shareholding for a stake of between 5.8 percent and 6.25 percent in Vodacom Group.
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