VOD - Vodafone sees bid for Italy unit from Niel's Iliad - Bloomberg

Vodafone (NASDAQ:VOD) is up 1.5% to its highest point since last June after a Bloomberg report that French wireless carrier Iliad (OTCPK:ILIAY) has made a bid for Vodafone's Italian operations. Iliad, the upstart no-frills carrier backed by billionaire Xavier Niel, submitted a bid to Vodafone's board last week, according to the report. That comes amid a flurry of merger/acquisition-related talk about UK-based Vodafone. Last month, reports tied Vodafone to a possible tie-up in Italy with Iliad as well as a potential interest in Vodafone buying Three UK from CK Hutchison. Meanwhile, Vodafone, Orange and Deutsche Telekom considered merging their tower assets into a new entity. Activist investor Cevian Capital is also apparently agitating for change at Vodafone after taking a stake.

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Vodafone sees bid for Italy unit from Niel's Iliad - Bloomberg