Overview

• Vodafone's largest shareholder, UAE's e&, has been identified as a national security risk by the UK government due to its ability to influence company policy.
• The UK government has ordered the establishment of a 'national security committee' at Vodafone to oversee any sensitive work impacting national security.
• The strategic partnership between Vodafone and e& allows e&'s CEO to join Vodafone's board, with the potential to add another executive if its ownership exceeds 20%.
• Despite the security concerns, the UK government has cleared e&'s 14.6% stake in Vodafone but imposed new restrictions.
• The proposed merger between Vodafone and Three, which would create the country's largest mobile phone operator, is still under regulatory review.