Vodafone Engages Morgan Stanley To Mull Options For Spanish Unit: Report

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.