Etisalat buys 10pc stake in Vodafone...

There is some big stakebuilding news breaking this morning.

Etisalat, the United Arab Emirates-based telecoms operator, has just revealed it has bought a near 10pc stake in FTSE 100-listed giant Vodafone for $4.4 billion.

The swoop makes Etisalat Vodafone's largest shareholder but the company says it won't make a bid for the company (usual caveats apply one assumes)...