France’s Iliad SA wants to finalise by the end of January a proposal to Vodafone Group PLC to combine their telecommunications operations in Italy, Reuters reported late Friday.

Having offered to buy Vodafone Italy nearly two years ago, Iliad now is exploring a joint venture with Vodafone in the country, the news agency reported, citing ‘two sources briefed on the matter’.

https://www.reuters.com/business/media-telecom/iliad-wants-finalise-jv-proposal-vodafone-italy-by-end-january-sources-2023-12-15/

Vodafone back in February 2022 said it had rejected an offer for Vodafone Italy from Iliad, working with private equity firm Apax Partners LLP. At the time, the Financial Times had said the offer was worth €11 billion.

Vodafone shares were up 6.3% at 68.78 pence in London early Monday.

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