Shares of Vodafone Group surged in morning trade after Emirati telecom giant e& announced plans to sell its entire stake in the company.

Deal Worth Nearly $6 Billion

E& said it would offload its full holding in Vodafone for approximately $5.95 billion, a sizable transaction that sent the UK telecom’s stock sharply higher.

Stock Reaction

Vodafone shares climbed 11.2% following the announcement, marking one of the stock’s strongest single-day moves in recent memory.

Why the Stake Sale Matters

The move removes a large overhang from Vodafone’s shareholder register and could pave the way for greater trading liquidity in the stock going forward.

Broader Telecom Backdrop

The news comes as telecom operators across Europe continue to navigate consolidation pressures and shifting strategic stakes among major shareholders.