PARIS (Reuters) – Iliad said on Monday it had submitted a proposal to Vodafone to merge their Italian businesses, adding this project had the unanimous support of its board of directors.
“The merged business would be expected to generate revenues of around 5.8 billion euros ($6.34 billion) and EBITDA of
approximately 1.6 billion euros for financial year ending March 2024,” Iliad said in a statement.
Vodafone would receive 50% of the share capital of the newly merged business, together with a cash payment of 6.5 billion euros and a shareholder loan of €2.0 billion to ensure long-term alignment, Iliad added.
($1 = 0.9154 euros)
(Reporting by Benoit Van Overstraeten; Editing by Tassil Hummel)
