- Iliad SA, the French carrier backed by telecom billionaire Xavier Niel, offered to acquire Vodafone Group Plc's (NASDAQ:VOD) Italian unit, Bloomberg reports. The financial terms of the offer remain undisclosed.
- Vodafone is currently looking for merger opportunities in the U.K., Spain, Italy, and Portugal.
- Iliad is also looking to purchase a rival phone carrier in Italy if the opportunity arises.
- Related Content: Vodafone, Iliad Explore Merger Of Italian Operations: Report
- Recently, activist investor Cevian Capital AB has taken a stake in Newbury, England-based Vodafone and is agitating for change, including selling some operations or pursuing stock buybacks.
- Iliad moved into the Italian mobile services market in 2018 as a no-frills challenger, sparking a price war that last year led to three profit warnings by ex-monopolist Telecom Italia SpA.
- Price Action: VOD shares traded higher by 2.08% at $18.58 on the last check Monday.
