Vodafone in advanced talks to sell Italian arm in £6.8bn deal

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Mobile phone giant Vodafone has confirmed talks to sell its Italian business to Switzerland’s Swisscom in a deal worth 8 billion euros. Vodafone said: “Vodafone has engaged extensively with several parties to explore market consolidation in Italy and believes this potential transaction delivers the best combination of value creation, upfront cash proceeds and transaction certainty for Vodafone shareholders.” It comes after FTSE 100-listed Vodafone rebuffed attempts by France’s Iliad to merge the two firms’ Italian businesses, which would have created the country’s biggest mobile phone company. The planned merger of Vodafone Italia and Fastweb would bring together complementary high-quality mobile and fixed infrastructures, competencies, and capabilities to create a leading converged challenger Swisscom Vodafone and Iliad had revealed the talks in December last year. Swisscom said: “The planned merger of Vodafone Italia and Fastweb would bring together complementary high-quality mobile and fixed infrastructures, competencies, and capabilities to create a leading converged challenger.