Britain's Vodafone Group has announced the sale of its Italian operations to Swisscom, the Switzerland-based telecom operator, for €8 billion ($8.7 billion).
This sale, confirmed on Friday, is part of Vodafone's broader plan to streamline its portfolio and focus on markets where it can ensure profitable growth.
Following the sale, Vodafone plans to return half of the proceeds, amounting to €4 billion, directly to its shareholders through a comprehensive share buyback.
Margherita Della Valle, Vodafone's chief executive, highlighted the transaction as the “final step in the reshaping of our European operations”, emphasising the company's aim to operate in growing telecoms markets where it holds strong positions.
This move is seen as a focus on areas offering predictable and robust growth in Europe.
“Vodafone’s Italian business has been struggling, so shedding this weight should help the group refocus,” said Sophie Lund-Yates, lead equity analyst at stockbrokers Hargreaves Lansdown.
“Attention will now turn to how effectively Vodafone uses its resources to fix wider challenges, including high debts, costs and some increasing competition. ”
Swisscom intends to finance the purchase through new debt and merge Vodafone Italia with its Italian subsidiary, Fastweb, attempting to unlock significant savings and provide enhanced services in Italy.
The sale agreement also includes an arrangement where Vodafone will continue to provide certain services to Swisscom over the next five years, with an initial annual charge of €350 million, anticipated to decrease over time.
Both companies are exploring a closer commercial relationship, which may enable collaboration across areas beyond Italy.
Vodafone has previously sold its Spanish operations and is in the process of merging its UK business with Three UK, aiming to create Britain's largest mobile phone network.
The transaction has been well-received in the market, with Vodafone's shares closing 5.7 per cent higher in London.
Swisscom's shares rose 4.9 per cent in Zurich, indicating positive investor sentiment regarding the deal's potential benefits for both companies.
Swisscom's chief executive Christoph Aeschlimann expressed enthusiasm about the merger's “industrial logic”.
“Fastweb and Vodafone Italia are an ideal fit to create high added value for all stakeholders,” he said.
The combined operation is expected to sustain investments and offer improved services, addressing the competitive challenges in the Italian telecom market.
Despite the divestment and the focus on reshaping its European operations, Vodafone faces challenges, including high debts and increasing competition in its remaining markets.
The sale of Vodafone Italia to Swisscom is expected to be completed by the end of the first quarter of 2025, marking a milestone in Vodafone's overhaul and its commitment to focusing on core markets and improving shareholder returns.
Mohammed bin Zayed Majlis
UAE currency: the story behind the money in your pockets
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- 1st Test India won by 304 runs at Galle
- 2nd Test Thursday-Monday at Colombo
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Brief scoreline
Switzerland 0
England 0
Result: England win 6-5 on penalties
Man of the Match: Trent Alexander-Arnold (England)
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Stoke City v Tottenham
Brentford v Newcastle United
Arsenal v Manchester City
Everton v Manchester United
All ties are to be played the week commencing December 21.
The specs: 2018 Opel Mokka X
Price, as tested: Dh84,000
Engine: 1.4L, four-cylinder turbo
Transmission: Six-speed auto
Power: 142hp at 4,900rpm
Torque: 200Nm at 1,850rpm
Fuel economy, combined: 6.5L / 100km
Manchester United's summer dealings
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Victor Lindelof (Benfica) £30.7 million
Romelu Lukaku (Everton) £75 million
Nemanja Matic (Chelsea) £40 million
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Zlatan Ibrahimovic Released
Wayne Rooney (Everton) Free transfer
Adnan Januzaj (Real Sociedad) £9.8 million
Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EMaly%20Tech%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Mo%20Ibrahim%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%20International%20Financial%20Centre%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EFunds%20raised%3A%3C%2Fstrong%3E%20%241.6%20million%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2015%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%2C%20planning%20first%20seed%20round%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20GCC-based%20angel%20investors%3C%2Fp%3E%0A
Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
Killing of Qassem Suleimani
Afghanistan fixtures
- v Australia, today
- v Sri Lanka, Tuesday
- v New Zealand, Saturday,
- v South Africa, June 15
- v England, June 18
- v India, June 22
- v Bangladesh, June 24
- v Pakistan, June 29
- v West Indies, July 4
Fanney Khan
Producer: T-Series, Anil Kapoor Productions, ROMP, Prerna Arora
Director: Atul Manjrekar
Cast: Anil Kapoor, Aishwarya Rai, Rajkummar Rao, Pihu Sand
Rating: 2/5
Stree
Producer: Maddock Films, Jio Movies
Director: Amar Kaushik
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MATCH INFO
England 241-3 (20 ovs)
Malan 130 no, Morgan 91
New Zealand 165 all out (16.5ovs)
Southee 39, Parkinson 4-47
England win by 76 runs
Series level at 2-2
The five pillars of Islam
Killing of Qassem Suleimani
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
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Chatham House Rule
A mark of Chatham House’s influence 100 years on since its founding, was Moscow’s formal declaration last month that it was an “undesirable
organisation”.
The depth of knowledge and academics that it drew on
following the Ukraine invasion had broadcast Mr Putin’s chicanery.
The institute is more used to accommodating world leaders,
with Nelson Mandela, Margaret Thatcher among those helping it provide
authoritative commentary on world events.
Chatham House was formally founded as the Royal Institute of
International Affairs following the peace conferences of World War One. Its
founder, Lionel Curtis, wanted a more scientific examination of international affairs
with a transparent exchange of information and ideas.
That arena of debate and analysis was enhanced by the “Chatham
House Rule” states that the contents of any meeting can be discussed outside Chatham
House but no mention can be made identifying individuals who commented.
This has enabled some candid exchanges on difficult subjects
allowing a greater degree of free speech from high-ranking figures.
These meetings are highly valued, so much so that
ambassadors reported them in secret diplomatic cables that – when they were
revealed in the Wikileaks reporting – were thus found to have broken the rule. However,
most speeches are held on the record.
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policymakers enabling them to more coherently address troubling issues from climate
change to health and food security.
The years Ramadan fell in May
MATCH INFO
Uefa Champions League quarter-final, second leg (first-leg score):
Manchester City (0) v Tottenham Hotspur (1), Wednesday, 11pm UAE
Match is on BeIN Sports
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
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Based: Jumeirah Lake Towers
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Tickets and schedule: Entry is free for all spectators. Gates open at 9am. Play commences at 10am
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Rating: 4/5
