This French Carrier Offers To Acquire Vodafone's Italian Unit

Iliad SA, the French carrier backed by telecom billionaire Xavier Niel, offered to acquire Vodafone Group Plc's VOD Italian unit, Bloomberg reports. The financial terms of the offer remain undisclosed.
Vodafone is currently looking for merger opportunities in the U.K., Spain, Italy, and Portugal.
Iliad is also looking to purchase a rival phone carrier in Italy if the opportunity arises.
Related Content: Vodafone, Iliad Explore Merger Of Italian Operations: Report
Recently, activist investor Cevian Capital AB has taken a stake in Newbury, England-based Vodafone and is agitating for change, including selling some operations or pursuing stock buybacks.
Iliad moved into the Italian mobile services market in 2018 as a no-frills challenger, sparking a price war that last year led to three profit warnings by ex-monopolist Telecom Italia SpA.
Price Action: VOD shares traded higher by 2.08% at $18.58 on the last check Monday.