Niel’s Iliad Proposes Merging Italian Operations With Vodafone Italy
- Iliad owner Xavier Niel bought stake in Vodafone last year
- Last year, Vodafone rejected €11 billion bid for Italian arm
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Billionaire Xavier Niel is making a fresh attempt to combine his Italian telecommunications business with Vodafone Group Plc’s local operations, which his bid values at at €10.45 billion ($11.4 billion).
Niel’s Iliad and Vodafone would initially each get 50% of the share capital of the new venture, the French company said in a statement on Monday. The offer would also give Iliad the option to buy 10% of the combined company’s shares annually, paving the way to full control.