Vodafone

VOD

Market cap $36B

London's FTSE 100 was little changed on Monday as gains in oil majors helped offset weakness in financial shares, leaving investors to weigh the market impact of renewed US-Iran military exchanges. The blue-chip index edged up 0.03% to 10,499.88 points by 0927 GMT, while the domestically focused FTSE 250 slipped 0.1%.

The buyer is French telecom founder and investor Xavier Niel. He'll hold around 16% of the company.

Shares of Vodafone Group (NASDAQ:VOD | VOD Price Prediction) are up 12.7% in Friday midday trading, changing hands near $14.74 after opening from a prior close of $13.08.

U.S. stocks were higher, with the Dow Jones index gaining around 50 points on Friday.

London's FTSE 100 edged higher on Friday, supported by strong gains in Vodafone and easyJet following major corporate developments. However, renewed tensions in the Middle East continued to weigh on investor sentiment, limiting broader market gains.

London's FTSE 100 inched up on Friday, supported by deal-driven gains in Vodafone and easyJet, though Middle East tensions kept a lid ​on further upside.

Vodafone shares surged nearly 13% on Friday after UAE telecom operator e& agreed to sell its entire stake in the British telecom giant to Vega, an investment vehicle wholly owned by the family group of French billionaire Xavier Niel, in a transaction valued at nearly $6 billion. Under the binding agreement, Vega will acquire e&'s roughly 16.2% stake in Vodafone for about £4.4 billion ($5.91 billion).

The French businessman plans to buy a 16.2% stake in the U.K. telecoms company from Emirates Telecommunications.

French telecoms billionaire Xavier Niel has agreed to buy e&'s entire 16.2% stake in Vodafone Group PLC (LSE:VOD) for £4.4 billion, a deal that will make him the largest shareholder in the FTSE 100 telecoms group. Vega, an acquisition vehicle wholly owned by the Niel family group, has entered a binding agreement with the Abu Dhabi operator to acquire its 3.9 billion shares at £1.104792 each.

UAE ​telecoms operator E& Group ‌said on Friday it would sell its entire stake ​in Vodafone to a ​company owned by the family ⁠group of French telecoms ​tycoon Xavier Niel for $5.95 billion.