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Financial News: Vodafone says "no grazie"

Financial News:

Vodafone says "no grazie"

Vodafone

Iliad France's $12.6 billion bid for Vodafone Italy was unexpectedly rejected. Expect a drop in share price at open. They intend to pursue a stand-alone strategy.

Vodafone (VOD.L) rejected a preliminary offer from France's Iliad and Apax Partners for its Italian unit for more than 11 billion euros, the first public clash in what might be a new wave of European telecoms deal making.

"Iliad takes note of the rejection by Vodafone of its 11.25 billion euros ($12.92 billion) offer for Vodafone Italy," the company said in a statement, adding that it will "pursue its stand-alone strategy".

Vodafone, the world's second largest mobile provider, said the offer was not in shareholders' best interests.

Photo: Vodafone Group Plc is a British multinational telecommunications company. Its registered office and global headquarters are in Newbury, Berkshire, England. It predominantly operates services in Asia, Africa, Europe, and Oceania.

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    Content ID: 1644564806 Created Friday, February 11, 2022 7:33 AM UTC by Aaron Stipkovich, Updated Friday, February 11, 2022 1:00 PM UTC by Aaron Stipkovich.