Xavier Niel buys 16% through investment vehicle Vega after Emirati telecoms group sells shareholding

The French telecoms billionaire Xavier Niel has become Vodafone’s largest shareholder after buying a 16% stake for £4.4bn.

On Friday, the Emirati telecoms group e&, which first took a stake worth £3.3bn in Vodafone in 2022, announced the sale of its entire shareholding for 112.5p a share.

The High Pay Centre revealed the excesses of CEO wages. But then anti-diversity winds blew in from across the Atlantic

Shock ricocheted around the world of social research this week with the sudden news of the imminent closure of the High Pay Centre (HPC). Founded in 2011 by the former Guardian business editor Deborah Hargreaves to focus on analysis of extreme pay at the top and the widening pay gap between CEOs and their average employees, its closure feels like the death of an idea.

Others campaign on tax and redistribution but the HPC was concerned with “predistribution”. It was unique in looking at the origins of inequality in pay and control over pay rates. Its annual report is always covered, even by rightwing media, because each year it reawakens a sense of disbelief at the way we live now. Why would the median FTSE 100 CEO need £4.4m this year to do his (yes, mostly still his) gratifyingly high-status job? Why?

Polly Toynbee is a Guardian columnist