Companies
Vodafone to sell its Italian business in €8 billion deal
Shareholders to get €4 billion through buyback after sale to Switzerland’s Swisscom
Vodafone has agreed an €8 billion eight deal to sell its Italian business to Switzerland’s Swisscom. The mobile phone giant said it plans to hand €4 billion euros back to shareholders through a buyback following the sale.
It comes two weeks after the company first confirmed it was in discussions over a potential deal. On Friday, London-listed Vodafone said the move represented an “attractive valuation” and marked the final step of its strategy to sell ...