On May 18, 2022, Vodafone Group Public Limited Company's chief executive has insisted its new biggest shareholder does not pose a threat to his plans for the company. Nick Read welcomed the investment from Etisalat, the Gulf telecoms group led by former Vodafone executive Hatem Dowidar, who launched a £3.3bn raid on the business. Announcing Vodafone's annual results, Read said that he had a very good conversation with Hatem and he is fully supportive of the Company strategy, both organically and the actions the Company taking on the portfolio.

Some analysts believe Etisalat's 10pc stake could support Read's attempts to overhaul Vodafone through a pan- European consolidation drive by helping to ward off pressure from activist investor Cevian Capital, which is demanding a faster turnaround.