Vodafone Group Plc VOD has reportedly hired Morgan Stanley MS to evaluate the options for its Spanish unit.
The company has started a strategic review on the future of its Spanish unit, Reuters reported citing Spanish newspaper Expansion.
The Spanish business, worth over $4 billion, had takeover interest from potential buyers in April.
Related: Vodafone's Spain Unit Worth $4B Attracts Takeover Offers
Vodafone's CEO Margherita Della Valle said last month the company's management is open to "structural change," the report added.
In its FY23 results, Vodafone said Spain is a "highly competitive low-end segment" and is under "strategic review." It has an addressable market worth €17 billion.
The company recently inked a deal with CK Hutchison Group Telecom Holdings Limited (CKHGT) to merge their UK telecommunication businesses.
Price Action: VOD shares are trading lower by 0.48% to $9.28 on the last check Wednesday.
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