Trade in VenFin`s share, which is listed on the JSE, will be suspended from the start of business tomorrow.
UK-based cellular network operator Vodafone recently acquired more than 90% of VenFin, which gives it the right to invoke Section 400K of the Companies Act, making it compulsory for the remaining minority shareholders in VenFin to accept Vodafone`s offer for their shares.
Vodafone announced this morning that it was invoking Section 440K and a circular and form of surrender and transfer would be sent to the minority shareholders today.
The company says the compulsory acquisition of the remaining shares will take effect on 11 April and the VenFin listing will be terminated on 18 April.
The acquisition of VenFin, which owns 15% of local cellular operator Vodacom, brings Vodafone`s stake in Vodacom to 50%.
Local fixed-line operator Telkom holds the other half of Vodacom.
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