Vodafone Rejects Approach From Iliad, Apax Partners for Vodafone Italy
February 10 2022 - 8:25AM
Dow Jones News
By Kyle Morris
Vodafone Group PLC confirmed Thursday that it has rejected a
preliminary, nonbinding indication of interest from Iliad SA and
Apax Partners LLP to buy Vodafone Italy.
The U.K.-based telecommunications company said it rejected the
approach as it isn't in the best interests of shareholders.
A price wasn't disclosed by Vodafone, but U.K. newspaper the
Financial Times reported Wednesday that it was around 11 billion
euros ($12.57 billion).
Vodafone said it remains focused on delivering shareholder value
through its organic-growth strategy in the medium-term and
portfolio optimization. The company continues to pursue value
accretive consolidation to deliver sustainable market structures in
its major European markets, including Italy, it said.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
February 10, 2022 09:10 ET (14:10 GMT)
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