Vodacom to book R23.2-billion Safaricom gain amid court fight

Vodacom Group will record a one-off R23.2-billion accounting gain on Safaricom in its interim results after taking control of the Kenyan operator. EPS for the six months to 30 September will rise 272–279% to 1,756–1,789 cents, while Heps grows 22–27%. Kenyan courts are still weighing whether the purchase of a 15% state stake should be undone.

• The R23.2-billion gain comes from remeasuring Vodacom's prior 35% Safaricom stake
• EPS to rise 272–279% to 1,756–1,789 cents; Heps up 22–27%
• Vodacom's Safaricom stake rose to 55% after buying 20% on 30 June
• Kenya's appeal court kept the status quo pending a fast-tracked appeal