Vodafone completes £6.6bn deal to offload Italian arm
The IndependentFor 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 Vodafone has completed the eight billion euro sale of its Italian business to Switzerland’s Swisscom as a flurry of deals are sewn up for the start of the new year. The mobile phone giant – which last month saw its £15 billion tie-up with Three UK cleared by Britain’s competition regulator – plans to use the cash to pay down its debt pile and complete a further two billion euro share buyback to boost returns for investors once its current programme has ended. The Italian division sale comes after the Competition and Markets Authority last month gave the green light to the mega-merger between Vodafone and Three UK, paving the way for the creation of Britain’s biggest mobile phone network.
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