A report from Italy suggests that French-owned Iliad has tabled a takeover offer for larger rival Vodafone Italy. Bloomberg cites ‘people with knowledge of the matter’ who said that a bid was submitted to Vodafone’s board last week. Activist investor Cevian Capital recently acquired a stake in UK-based Vodafone Group and is looking to shake up the business by selling some operations or carrying out stock buybacks. Meanwhile, Vodafone CEO Nick Read recently admitted that the group was looking for merger opportunities in the UK, Spain, Portugal and Italy.
TeleGeography’s GlobalComms Database notes that Iliad entered the Italian mobile sector in May 2018 and has since grabbed more than 10% of the market in subscription terms, offering low-cost unlimited plans which undercut those of its established competitors Vodafone, TIM and WINDTRE. The French-owned telco also recently made its debut in Italy’s fixed broadband market, launching a fibre product which again is priced cheaper than those of its rivals.