Investor Relations

Following a Vodacom Congo shareholders' meeting today, the Vodacom Group will be initiating arbitration proceedings under ICC rules in Brussels.  The shareholders failed to reach agreement on a number of issues including capital restructuring that would support the continued growth of the business. 

"Vodacom Group has thus far provided all the funding for Vodacom Congo at commercial rates that were explicitly agreed to by minority shareholder CWN.  This funding has allowed Vodacom Congo to build infrastructure that connects more than 3.5 million Congolese and the business now provides direct and indirect employment for more than 6,000 people," said Bob Collymore, Chief Officer Corporate Affairs.

"Vodacom firmly believes in the potential of the business in the DRC and believes that the interests of Vodacom Congo's employees, its customers and the DRC as a whole are of paramount importance.  We stand ready to fund further expansion and are hopeful that the arbitration process will bring a positive result."

Arbitration proceedings will be lodged under ICC rules in Brussels with immediate effect.