Vodafone sells its Italian business to Swisscom for £6.8 billion, returning £3.4 billion to shareholders.

Vodafone agrees to sell its Italian business to Swisscom for £6.8 billion. The mobile phone giant plans to return £3.4bn to shareholders through a buyback after the sale. This follows the telecom companies' initial announcement of talks about a potential deal. Vodafone will continue to provide certain services to Swisscom for the next five years, with an annual charge of approximately £299 million. The two companies are also exploring a closer commercial relationship outside of Italy.

March 15, 2024
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