Cellphone giant Vodacom has implemented a R7.5 billion broad-based
BEE ownership transaction, it said on Tuesday.

Vodacom said it was "committed to meaningful participation by
historically disadvantaged South Africans at all levels of the South
African economy", read a statement issued by the company.
   In furthering this commitment, Vodacom said it had concluded
agreements that would facilitate the acquisition of an effective 6.25
percent interest in the issued ordinary share capital of Vodacom by
broad-based BEE groups.
   The BEE transaction would be funded through a combination of equity
raised from BEE investors and notional vendor funding.
   Vodacom's BEE transaction was one of the largest broad-based BEE
transactions in the South African information and communications
technology industry. It also included a significant public offer to the 
broad-based black South African public through YeboYethu.
   Vodacom SA would be owned by Vodacom Group (93.75 percent),
YeboYethu (3.44 percent), Thebe Investment Corporation (0.84 percent)
and Royal Bafokeng (1.97 percent). 
   YeboYethu was owned by the black public (55 percent) and the
YeboYethu Employee Participation Trust (45 percent). 
   Royal Bafokeng, Thebe and YeboYethu would each be entitled to
appoint a board member to the board of Vodacom SA, which currently had
13 members. 
   Vodacom said that the public offer would close at 3pm on Thursday,
September 11, 2008. 
   A prospectus setting out detailed terms of the YeboYethu offer would 
be made available at most South African Post Office branches from 9am
on July 30, 2008.
   Vodacom is a joint venture in which Telkom SA holds a 50 percent
interest, with the balance being held by the UK's Vodafone Group.

Sapa 

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