Vodafone, Iliad Explore Merger Of Italian Operations: Report - Vodafone Group (NASDAQ:VOD)

Telecom firm Vodafone Group PLC (NASDAQ:VOD) looks to strike a deal in Italy to combine its business with peer Iliad SA (OTC:ILIAY), Reuters reports.
The report adds that Iliad, which will make its wireline broadband debut in Italy on January 25, is working with investment bank Lazard Ltd (NYSE:LAZ) on its strategic plans in Italy.
The deal could create a telecoms powerhouse with a mobile market penetration of ~36% and combined revenues of ~€6 billion ($6.80 billion).
Vodafone has annual revenue of ~€5 billion in Italy and a 28.5% market penetration among mobile phone customers.
Iliad reported €674 million in annual revenue in 2020 and a mobile market share of about 7.7%.
Price Action: VOD shares traded higher by 6.63% at $16.88 in the premarket session on the last check Monday.

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