UAE phone company Etisalat Group said it has bought a 9.8 per cent stake in Vodafone Group Plc for $4.4 billion as the West Asian telecommunications provider seeks to expand globally. Etisalat Group offered about 130 pence ($1.59 dollars) a share, according to Bloomberg calculations. That's a premium of about 10 per cent to Vodafone's 117.82 pence closing price on Friday. The purchase makes Etisalat Vodafone's largest shareholder, ahead of BlackRock Inc., the Vanguard Group Inc., and HSBC Holdings Plc, according to Bloomberg data. The government-controlled company plans to remain a long-term investor and won't make an offer for the rest of Vodafone shares, Emirates Telecommunications Group Company PJSC, or e&, as the Abu Dhabi-listed group is formally known, said in a stock exchange statement. Etisalat Group "made the investment in Vodafone to gain significant exposure to a world leader in connectivity and digital services" and aims to develop opportunities for commercial partnerships, it said.