Niel Family Uses Derivatives to Build a 9.9% Vodafone Stake
Vega entered an equity derivative with an unaffiliated bank to buy up to 630,000,000 Vodafone ordinary shares on or before Feb 22, 2027, with the settlement date automatically extended 12 months unless the bank opts out. Regulatory clearance for the first tranche was obtained Aug 19, 2026, and settlement is limited to avoid Vega’s beneficial ownership exceeding 9.9% on the scheduled date.