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In a groundbreaking move, Iliad Group has tabled a compelling €10.45 billion merger bid for Vodafone Group in Italy, catapulting Vodafone’s shares by 6% on Monday. The proposed deal includes €6.5 billion in cash and a €2 billion shareholder loan, gaining support from the board and prominent investor Xavier Niel.
If approved, the merger would birth a transformative entity dubbed “NewCo,” committed to accelerating Italy’s digital evolution, particularly in fiber adoption and 5G deployment. Iliad Group CEO Thomas Reynaud envisions over €4 billion in investments over the next five years.
Anticipating robust financials, the merged business is projected to generate €5.8 billion in revenue and €1.6 billion in EBITDA for the fiscal year ending March 2024. Vodafone’s stock witnessed a remarkable 6.04% surge, reaching 68.67 pence per share at 10:07 am CET.
This strategic move not only reshapes the telecommunications landscape but also underscores the commitment to advancing digital infrastructure in Italy.
Stay tuned for further developments as the merger proposal unfolds.
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