Latest News

Vodafone confirms £7bn Italian sale talks with Swisscom


Vodafone confirms £7bn Italian sale talks with Swisscom By Proactive Investors

Breaking News


Stock Markets

Published Feb 28, 2024 07:54

© Reuters. Vodafone confirms £7bn Italian sale talks with Swisscom

Proactive Investors – Vodafone Group PLC (LON:VOD) said it is in exclusive discussions with Swisscom about a cash sale of its Italian arm.

The debt-laden telecoms group admitted in December that it was exploring options for Vodafone Italia and rumours have suggested Swisscom was the leading candidate, as it owns broadband provider Fastweb in the country.

Today, Vodafone confirmed the pair currently are talking about Swisscom potentially buying Vodafone Italy for a total enterprise value of €8 billion (£6.8bn) excluding debt and cash.

If the deal is completed at this price, it would represent a price of 26 times forecast free cash flow and 7.6 times underlying earnings.

But it is lower than the €10.45 billion value that was suggested as part of a merger of the Italian business with that of Paris-based telco Iliad last year, although this involved only a €6.5 billion cash payment.

“Vodafone has engaged extensively with several parties to explore market consolidation in Italy and believes this potential transaction delivers the best combination of value creation, upfront cash proceeds and transaction certainty for Vodafone shareholders,” he FTSE 100-listed company said today.

Read more on Proactive Investors UK


Vodafone confirms £7bn Italian sale talks with Swisscom

Our Apps

Terms And Conditions
Privacy Policy
Risk Warning
Do not sell my personal information

© 2007-2024 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Falling food prices underpin Pound sterling’s recovery narrative: CIBC

Previous article

UK electricity capacity auction for 2027/28 clears at record high

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News