UK telecoms giant Vodafone has taken out a record R8bn ($1.2bn) loan in the South African debt market to finance the acquisition of a further 15% stake in South African mobile phone network, Vodacom.

The purchase pushes Vodafone's holding in Vodacom close to 65% after the UK company raised its existing stake to 50% last November in deal worth $1.73bn (€1.35bn).