100% of Vodafone Italy to revert to Vodafone Group following Verizon deal

4 Sep 2013

In a widely overlooked component of Vodafone Group’s USD130 billion sale of 45% of Verizon Wireless to Verizon Communications, Verizon will transfer its minority stake in Vodafone Italy back to the Vodafone Group. The 23.1% stake – credited to ‘Vodafone Omnitel’ in recent company press releases – dates back to a 1995 joint venture between the two parties. With the two telecoms giants now cutting their ties, the Omnitel stake, valued at USD3.5 billion, is presumably viewed as surplus to requirements by the US telco.

According to TeleGeography’s GlobalComms Database, Vodafone Italy was founded by a number of shareholders, including Olivetti, Bell Atlantic International (now Verizon Communications) and Telia International (now TeliaSonera), and was initially known as Omnitel.

Italy, Verizon Communications, Vodafone Group, Vodafone Italy