Vodafone italy sale

Mar 22, 2024 · We anticipate pre-dividend FCF margin will decrease by around 1. In a statement today (May 21), Swisscom said that the Italian Presidency of the Council of Ministers "unconditionally approved the acquisition pursuant to the golden power legislation. Feb 28, 2024 · Vodafone is working on a deal that should see it sell its Italian operations to Swisscom for €8 billion in cash. 21. The sale is the the final step of the portfolio right-sizing announced in May 2023. 1 billion in cash. As part of the Transaction, Vodafone and Swisscom have agreed that Vodafone will continue to provide certain services to Swisscom for up to Dec 18, 2023 · Vodafone VOD -2. Vodafone is a leading European and African telecoms company. 2 times on the same basis, according to Karen Egan at Enders. K. 59% for 8 billion euros ($8. 7 billion) and merge the business with its Italian subsidiary Fastweb in Feb 27, 2024 · Vodafone confirms it is in exclusive talks with Swisscom regarding a potential sale of Vodafone Italy for cash. Vodafone Group Plc ("Vodafone") announces today the final step of the portfolio right-sizing announced in May 2023, with a binding agreement to sell 100% of its Italian operations ("Vodafone Italy") to Swisscom AG ("Swisscom") (the "Transaction"). Mar 15, 2024 · ZURICH/LONDON (Reuters) -Swisscom said on Friday it would buy Vodafone Italia for 8 billion euros ($8. We provide mobile and fixed services to over 330 million customers in 15 countries (excludes Italy and Spain which are held as discontinued operations under Vodafone Group), partner with mobile networks in 43 more and have one of the world’s largest IoT platforms. Vodafone has rejected Iliad’s proposal to merge their Italian businesses, according to the French Mar 15, 2024 · Vodafone VOD 0. 13. 6x Adjusted EBITDAaL ⫶ highest OpFCF multiple of any Vodafone market transaction in the last 10 years € 8bn ⫶ upfront cash proceeds, subject to customary closing adjustments Multi-year service agreements ⫶ c. 7 billion) and will hand back half Oct 2, 2018 · October 02, 2018 at 03:28 pm EDT. Mar 15, 2024 · Vodafone has agreed an eight billion eight (£6. 1 Vodafone has confirmed the sale of its Italian business to Swisscom for €8bn in cash, subject to approvals. Vodafone would have gained half of the share capital of the combined group, as well as a £5 Mar 15, 2024 · (RTTNews) - British telecom major Vodafone Group Plc (VOD. c. Feb 10, 2022 · Vodafone Group Plc has rejected an 11. € 350m in year 1, contracts for up to 5 years + exploring Sale of Vodafone Italy and capital return. Mar 15, 2024 · ZURICH/LONDON, March 15 (Reuters) - Swisscom (SCMN. 25 billion euros to buy Vodafone Italy last year, but was rebuffed. telecom company’s simplification of its European portfolio. For the 12-month period ended 31 March 2023, Vodafone Italy generated a los. Market size (CY23 telecoms revenue 4 ) € 57bn. Africa. The deal values the Italian business at 7. The Presidency of the Council of Ministers confirms in its Feb 28, 2024 · Vodafone Group has confirmed exclusive discussions with Swisscom AG regarding a potential sale of Vodafone Italy for cash. The FTSE Mar 15, 2024 · Vodafone will now commit up to $4. ; (iii) its capital allocation review (together, the “Investor Updates”). “The sale of Vodafone Italy May 21, 2024 · The Italian government has approved Swisscom's €8 billion ($8. Mar 15, 2024 · Vodafone Italy entered exclusive talks with Swisscom about a sale in Italy last month and the €8 billion sum will be paid upfront in cash. 25 billion-euro ($12. Connectivity. telecommunications company’s restructuring of Feb 28, 2024 · LONDON, Feb 28 (Reuters) - Swisscom (SCMN. 1 billion ($2. This presentation has been prepared by Vodafone Group plc (“Vodafone”) in connection with: (i) Vodafone’s changing shape and footprint; (ii) its agreement for the sale of Vodafone Italia s. Vodafone Group has formally exited the Spanish market following the completion of the sale of Vodafone Spain to Zegona Communications for a total fee of €5 billion, of which €4. U. 3%. It is also in the process of merging its UK business with Three, pending Competition and Market authority approval. The U. com for RTTNews ->. New shape of the Group Following the announced sale of Vodafone Spain and Vodafone Italy as part of right-sizing our Feb 27, 2024 · Swisscom AG is in advanced talks to buy Vodafone Group Plc’s Italian business for €8 billion ($8. (“Vodafone Spain”) (the “Transaction”). See page 27 Feb 28, 2024 · European telecoms incumbents trade at 7. Reshaped footprint ⫶ Strong positions in growth markets Germany UK Other Europe. Last year, the company struck a deal to sell its Spanish business to Zegona Communications and agreed to merge its U. 6 times its expected underlying cash profit Jan 31, 2024 · Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. 7 billion), the companies said Dec 20, 2023 · Competition for the asset is getting stronger after Iliad this week made an offer to combine its own Italian operations with Vodafone’s in a deal that would value Vodafone Italia at €10. It also uses intercompany corporate Mar 15, 2024 · The sale of Vodafone Spain and Italy has netted the group €12billlion, of which €4billion, or roughly £3. S) said on Wednesday it was in exclusive talks to buy all of Vodafone Italia for 8 billion euros ($8. Mar 15, 2024 · LONDON (AP) — British cellphone company Vodafone confirmed Friday that it is selling its Italian business to Switzerland’s Swisscom for 8 billion euros ($8. The two companies are in exclusive talks on Vodafone Italy, but have yet to reach a binding agreement, it said. 7 billion) and merge the business with its Italian subsidiary Fastweb in the latest round of Mar 15, 2024 · Vodafone has agreed to sell its Italian business to Bern-based telecommunications firm Swisscom for €8 billion in cash, according to a statement released on Friday. 00c 9. 45 billion (EV). 5% 4. 5c 1 + € 4bn buyback programme. 7 billion) and merge the business with its Italian subsidiary Fastweb in the latest round of Jan 31, 2024 · The French company offered 11. The Network Sharing Partnership will enable active network Mar 15, 2024 · VOD. Vodafone Italy accounts for 11% of overall Group revenue. Vodafone Group Plc struck an €8 billion ($8. 8 billion) deal to sell its Italian business to Switzerland’s Swisscom. 4billion, will be paid out to shareholders via buybacks, it said on Friday. The deal would value Vodafone Italy at an enterprise value of €8 billion and deliver value creation, upfront cash proceeds and transaction certainty for Vodafone shareholders. 7 billion) and will hand back half May 21, 2024 · Following the announcement of the acquisition of Vodafone Italia on 15 March 2024, Swisscom informs that the Italian Presidency of the Council of Ministers has unconditionally approved the acquisition pursuant to the Golden Power legislation. S) said on Friday it would buy Vodafone Italia for 8 billion euros ($8. Vodafone Group Plc (“Vodafone”) notes today's announcement from Iliad regarding a proposed merger of Vodafone Italy and Iliad Italy. 9240 euros) Mar 15, 2024 · Reshaped European footprint, €8bn sale of Vodafone Italy & €4bn capital return. Non-GAAP measure. 8bn) as the struggling telecoms giant forges ahead with plans to slim down operations. 5% stake in Vodafone Group via investment vehicle Atlas Investissement. € 42bn UK. 00 cents. True, Vodafone’s Italian business is rapidly shrinking. Vodafone now said its reshaped European Mar 15, 2024 · British cellphone company Vodafone confirmed Friday, March 15, 2024, that it is selling its Italian business to Switzerland’s Swisscom for 8 billion euros ($8. Reshaped Vodafone footprint focused on growing markets, with strong positions and local scale. 7 billion) in cash and said it will buy back €4 billion in stock as the company seeks to streamline Sale of Vodafone Italy and capital return. Feb 28, 2024 · The Italy news comes as a sale has already been agreed for Vodafone’s Spanish business, to UK investment vehicle Zegona. Meanwhile, Vodafone’s CEO insists that no remedies are warranted for the proposed U. Now the UK-based telecoms group is making Vodafone will offload its Italian business to a Swiss rival for €8bn (£6. Spain and Italy) 1 17 (33,242) (33,250) – Total dividends per share 18 9. Luka Mucic Chief Financial Officer • Joined Vodafone Sep’23 • Previously CFO & COO for tech industry leader. 29% Group agreed to sell its Italian business to Swisscom SCMN 0. usiness customers across Italy. 9 billion, and Iliad Italy at £3. Value-creating sale of Vodafone Italy for € 8 billion. 71 billion) in cash, completing the U. “The sale of Vodafone Italy Dec 18, 2023 · The iliad Group has submitted to Vodafone Group a proposal for the merger of iliad Italia and Vodafone Italia. 5pp following the sale of Vodafone Italy. PK, SCMWY. group turned down a bid from Xavier Niel’s Iliad Group. 5 billion). 3x, assuming dividend payments are reduced and no further shareholder returns are distributed apart from the announced EUR4 billion share buyback. Feb 28, 2024 · On Wednesday, Vodafone Group announced plans to sell 100% of its Italian subsidiary Vodafone Italia to the Swiss operator Swisscom, based on a price of eight billion euros. 00c 1. May 14, 2024 · About Vodafone. It paid a 4. 12 May 27, 2024 · The sale of Vodafone Spain to Zegona is on track for completion in May. It followed her decision last Nov 3, 2023 · Two decades ago Vodafone was riding high, pulling off a blockbuster takeover with its 2000 acquisition of German rival Mannesmann in a deal worth £113bn. 1. Vodafone noted that the Italian sale follows a similar disposal of its Spanish arm, raising EUR12 billion in total. ross assets of €12. Further to the announcement between the Parties on 21 February 2019, Vodafone Italia and TIM have today finalised a Network Sharing Partnership to jointly roll-out 5G infrastructure in Italy and to extend their existing passive sharing arrangements. merger. Investor update ⫶ March 2024. 45 Mar 15, 2024 · Vodafone has agreed an €8 billion deal to sell its Italian business to Switzerland's Swisscom. Sale of Vodafone Italy ⫶ € 8 billion enterprise value. p. 4. 5% and 16%. 4 billion) via share buybacks from the Italian sale and a deal agreed last year to exit Spain. The telecoms group issued a statement to that effect on Wednesday following relentless media speculation over such a deal. Dec 18, 2023 · The French company offered 11. PK) for an enterprise value of 8 billion euros. Later that year, Niel took control of a 2. 6 billion in cash and a 50% stake in the combined entity — a riskier but likely more value-accretive option. Margherita Della Valle’s M&A-led rationalisation programme marches on; Italy set to become second major European market Vodafone exits under new CEO’s regime… but how does the Swisscom deal compare with the Iliad proposal Vodafone turned down? Dec 18, 2023 · Under the offer, which now values Vodafone Italia at €10. In H1 FY24, the Italian business reported a 1. 0%. Proposal values Vodafone Italia at €10. Vodafone announced the sale of its Spanish business last month for 5 billion euros, after agreeing in June to merge its UK unit Mar 15, 2024 · British cellphone company Vodafone confirmed Friday, March 15, 2024, that it is selling its Italian business to Switzerland’s Swisscom for 8 billion euros ($8. Swisscom’s planned purchase of Vodafone Italy also jumps a regulatory hurdle. On completion, Vodafone’s consideration will comprise at least €4. operations with CK Hutchison Holdings' Three. We provide summaries at the start of each key section, denoted by an S . L, VOD) announced Friday its binding agreement to sell Vodafone Italy to telecom service provider Swisscom AG ( SWZCF. 9. (RTTNews) - British telecom major Vodafone Group Plc (VOD. Iliad would Mar 15, 2024 · ZURICH/LONDON (Reuters) -Swisscom said on Friday it would buy Vodafone Italia for 8 billion euros ($8. " Swisscom said it was informed that its acquisition of Mar 15, 2024 · Vodafone Group Plc ("Vodafone") announces today the final step of the portfolio right-sizing announced in May 2023, with a binding agreement to sell 100% of its Italian operations ("Vodafone Italy Mar 15, 2024 · Vodafone and Swisscom have confirmed that the Swiss telecom group will take over Vodafone Italy for €8bn, enabling the UK company to return €4bn to shareholders. 5bn in cash, a shareholder loan of €2bn and a 50 per cent stake in the new business. 5 billion JV bid questionable given the latter would result in €6. 7 billion) on a cash and debt-free basis after fending off competition from rivals including Mar 15, 2024 · Paul Hill · Mar 15, 2024 11:44 EDT 0. Sale of Vodafone Italy and capital return. Consistent with its previous statements, Vodafone is supportive of in-market consolidation in countries where it is not achieving appropriate returns on invested Mar 15, 2024 · We would like to show you a description here but the site won’t allow us. The spectrum acquired in the auction hosted by the Ministry of Nov 27, 2023 · Vodafone is mulling the sale of its Italian operations to Fastweb, it emerged late last week, as incumbent TIM detailed the make-up of the NetCo business that it aims to sell to KKR. Appendix III Important notice. Vodafone would obtain 50% Nov 14, 2023 · Spain and Italy remained the exceptions in Vodafone's major markets. 4 billion. The sale of Vodafone Italy Mar 15, 2024 · Vodafone Exits Italy: Vodafone's long-suffering shareholders will receive 4 billion euros ($4. Mar 15, 2024 · Vodafone Group Plc struck an €8 billion ($8. “Our transactions in Italy and Spain will Nov 14, 2023 · Vodafone Group PLC (LSE:VOD) boss Margherita Della Valle confirmed she is mulling potential options for its Italian arm after delivering results that one Mar 15, 2024 · Vodafone will offload its Italian business to a Swiss rival for €8bn (£6. Mar 18, 2024 · The group announced the changes after it finally agreed to the sale of Vodafone Italy to Swisscom, which in turn plans to merge the business with Fastweb, its own unit in Italy. Highlights. Strengthening capabilities. 1 billion in cash and Sale of Vodafone Italy and capital return. 9 billion) offer for its Italian unit from a consortium backed by billionaire Xavier Niel’s Iliad SA. 7 billion) and will hand back half Feb 27, 2024 · What Bloomberg Intelligence Says: Vodafone’s advanced talks to sell its Italian unit for €8 billion to Swisscom makes its rejection of Iliad’s €10. 3% decline in service revenue to €2. Vodafone Italy eSIMs can be requested directly online at the time of purchase of your offer or in-store for €1 ( ~ 1 USD). 25 billion euros to buy Vodafone Italy outright in 2022 but was rebuffed. As part of the deal, Vodafone will also provide certain services to Swisscom for up to five years, for a sum of approximately €350 million for the first year after the deal is completed. 7 billion) deal to sell its Italian business to Swisscom AG, bringing to a close a years-long divestment effort and setting the stage for a shake-up Mar 15, 2024 · Vodafone's financial year ends on March 31. Both parties have tentatively agreed that Swisscom will acquire Vodafone Jul 25, 2019 · Network Sharing Partnership with TIM. 4 Mar 19, 2024 · “The sale creates significant value for Vodafone and ensures the business maintains its leading position in Italy, which has been built through the dedicated commitment of our colleagues to serving our customers over many years,” said Margherita Della Valle, group chief executive of Vodafone. The mobile phone giant said it plans to hand €4 billion back to shareholders through a buyback Swisscom agreed to buy Vodafone’s Italian business for $8. Vodafone Business ⫶ Our growth acceleration Increasing market share gains Business service revenue growth (%) Large markets with growing demand. Mar 31, 2023 · Vodafone Group Plc (“Vodafone”) announces that it has entered into binding agreements with Zegona Communications plc (“Zegona”) 1 in relation to the sale of 100% of Vodafone Holdings Europe, S. Mar 15, 2024 · Reshaped European footprint, €8bn sale of Vodafone Italy & €4bn capital return. 5. Vodafone Italy has acquired spectrum to enable the deployment of new 5G technology for a total cost of €2. The spectrum will deliver substantial network operating cost efficiencies to meet the expected future growth in data traffic. telecommunications company's restructuring of its European portfolio. In stores, it is also possible to replace the physical SIM card with a digital one. a. Subject to approval by the Italian Competition Authority, the €8 billion (US$8. 1x-0. (Bloomberg) -- Vodafone Group Plc struck an €8 billion ($8. 2024 09:00:00. It has 30,153,000 mobile phone customers and 3,182,000 fixed phone lines, with respectively a market share of 28. By Sepp Huber. 45bn, Vodafone would receive €6. [1] [2] Feb 28, 2024 · Vodafone lines up Italy escape, taking €8bn in Fastweb cash. 7 billion) to merge the business with its Italian Mar 15, 2024 · Vodafone's long-suffering shareholders will receive 4 billion euros ($4. 50 euro cents interim dividend for the current year and confirmed on Friday that the full-year payout for financial 2024 will stay at 9. 1. 7 billion, a deal that completes the U. 8billion. 26x OpFCF / 7. Dec 18, 2023 · This announcement contains inside information. However, we forecast that Vodafone’s EBITDA net leverage will decrease by around 0. Dec 15, 2023 · Iliad offered 11. − Following the announcements of the sale of Vodafone Spain and Vodafone Italy, both are now treated as discontinued operations and FY23 is re-presented accordingly. € 20bn Other 1. Apr 26, 2023 · French billionaire Xavier Niel’s Iliad SA has revived talks on a potential deal for some of Vodafone Group Plc’s European operations, people with knowledge of the matter said. 25 billion euros to buy Vodafone Italy outright last year but was rebuffed. The company's headquarters are in Ivrea ( TO) and Milan . 4% to €2. Vodafone has sold its Italian business, Vodafone Italy, to Swisscom for €8 billion as it seeks to focus on growing markets. 7 billion) deal to sell its Italian business to Swisscom AG, bringing to a close a years-long divestment effort and setting the stage for a shake-up Nov 14, 2023 · Niel owns a 2. -based group announced at the end of last week that the transaction has been Feb 28, 2024 · In late 2023, Vodafone's chief executive Margherita Della Valle announced the sale of its Spanish division to investment fund Zegona for up to five billion euros. € 56bn. The Iliad proposal valued Vodafone Italy at around £8. About Vodafone ItalyVodafone Italy is a mobile network operator providing mobile and fixed line services to both consumer and. 05. As at 31 March 2023, Vodafone Italy had. Cloud & Security. 0-1. 7 billion) deal to sell its Italian business to Swisscom AG, bringing to a close a years-long divestment effort and setting the Vodafone Italy is the Italian subsidiary of the UK -based telecommunications company Vodafone Group. 7 billion) and will hand back half Mar 15, 2024 · Written by RTTNews. com with Vodafone’s network. € 58bn Germany. ($1 = 0. 35 billion (€4 billion) in share buybacks using proceeds from the latest sale as well as the deal with Zegona "as part of our broader capital allocation review Mar 15, 2024 · Vodafone Group Plc has agreed to sell its Italian business to Swisscom AG for €8 billion ($8. Vodafone stock (NASDAQ:VOD) rose more than 5% out of Friday's market open, leading Communications stocks, as the company confirmed the sale of its Italian unit for €8B, much of which it's Feb 28, 2024 · Vodafone said it was in talks to sell its Italian business to Swisscom in a deal that would value the unit at €8bn, as chief executive Margherita Della Valle continues her attempts to simplify Net debt (excl. The two groups confirmed this morning that they were in "exclusive negotiations", while specifying that there was no certainty at present as to the final outcome of the Mar 15, 2024 · Vodafone Group agreed to sell its Italian business to Swisscom for 8 billion euros ($8. Dec 18, 2023 · PRESS RELEASE Paris, December 18, 2023,8:45 a. 27% Group said it is exploring merger or disposal options for its Italian business with several parties as it focuses on right-sizing the company’s portfolio for growth. m. 2. The mobile phone giant said it plans to hand four billion euros (£3. 68 billion), weeks after the U. 3 billion ($2. While Vodafone has been considering options including a straight sale or a joint venture, it might prefer Mar 15, 2024 · Slaughter and May is advising Vodafone Group Plc (“Vodafone”) on the entry into of a binding agreement to sell Vodafone Italy to Swisscom for an enterprise value of €8 billion (the “Transaction”). L. The iliad Group submits proposal to Vodafone to join forces in ItalyCombining the Italian operations of iliad and Vodafone would create the most Mar 15, 2024 · The release also extols the “value-creating” sale of 100% of Vodafone Italy to Swisscom for €8bn in “upfront cash proceeds” that will be added to the €4bn in cash expected from the impending sale of Vodafone Spain to Zegona, and celebrates the upcoming return of €4bn to investors via share buybacks “as part of a broader capital Mar 15, 2024 · LONDON (AP) — British cellphone company Vodafone confirmed Friday that it is selling its Italian business to Switzerland’s Swisscom for 8 billion euros ($8. 7 billion) deal is expected to complete in the first quarter of 2025 on a debt and cash 13. L, VOD) announced Friday its binding agreement to sell Vodafone Italy to telecom service Mar 15, 2024 · For Vodafone, the Italy sale is the last step in a restructuring of its European portfolio launched in May under Chief Executive Margherita Della Valle. If you want to buy before going to Italy, you can buy Italy eSIM from Italy-esim. FTSE 100 8,164. € 76bn Corporate. Italy is Vodafone’s third largest market after Germany and the UK, accounting for 11% of its service Jun 3, 2024 · Spanish market enters new era following structural changes. Vodafone is seeing some progress with plans to sell its operations in Italy and Spain while its Mar 15, 2024 · “The sale of Vodafone Italy to Swisscom creates significant value for Vodafone and ensures the business maintains its leading position in Italy, which has been built through the dedicated Dec 16, 2023 · While Vodafone has been considering options including a straight sale or a joint venture, it might prefer to remain in Italy, one of the people and another source said, cautioning deliberations Feb 28, 2024 · Swisscom said it is in advanced talks to buy Vodafone Group’s Italy business for 8 billion euros ($8. Rumour and speculation in the Italian telecoms market has become the norm in recent years, thanks to TIM’s ongoing endeavours to reshape its business, another Oct 1, 2018 · Vodafone Italy acquires spectrum for 5G services. Mar 15, 2024 · The sale of Vodafone Italy to Swisscom creates significant value for Vodafone and ensures the business maintains its leading position in Italy, which has been built through the dedicated British telecoms giant Vodafone is in advanced talks to sell its Italian unit to Switzerland's Swisscom, agreeing on a preliminary price of eight billion euros ($8. Margherita Della Valle Group Chief Executive • Joined Vodafone Apr’94 • Finance leadership roles, marketing & CVM positions. Dividend rebased to 4. 27 billion), while total revenue dropped 2. Appendix I Vodafone Group Executive Committee. 7bn) acquisition of Vodafone Italy. € 33bn 35 33251). The spectrum acquired in the auction hosted by the . 5% stake in Vodafone. See page 36. Welcome to our 2024 Annual Report We continue to use a simplified digital-first approach to our reporting, reflecting how we operate as a business. L, VOD) announced Friday its binding agreement to sell Vodafone Italy to telecom service provider Mar 15, 2024 · British telecom major Vodafone Group Plc ( VOD. tq sz vn nk jh vm fb lp th me