Q4 2023 Liberty Global Ltd Earnings Call
Swisscom is the only party in discussions over a potential Vodafone tie-up in Italy, sources close to the matter told Reuters. A combination with Swisscom's Fastweb Italian business is the sole option Vodafone has been working on after its January rejection of a bid to merge its Italian operations with those of Iliad, the three sources said on condition of anonymity because the talks are private. Iliad had proposed a 50-50 joint venture with Vodafone in Italy to create an operator with a combined enterprise value of 14.7 billion euros ($15.8 billion).
Shares in Vodafone led a sudden spike across European telecom stocks on Wednesday. Vodafone rose as much as 7% in London, and other telecom stocks in Europe also saw a burst higher, with BT last up 2.8%, while M Telecom Italia rose 1.1%, Swisscom added 1.1%, and Orange and Telefonica rose less than 1%. The European Commission document seen by Reuters, said EU regulators may ease their rules against mobile telecoms mergers and also broaden telecoms rules to get Big Tech and others to help fund the rollout of 5G.