Report
Stephane Beyazian

Vodafone : Italy: Vodafone refuses the best offer, in our view

>The Swisscom offer has the advantage of being in cash - Swisscom has confirmed that it is in talks with Vodafone to acquire Vodafone Italy based on enterprise value of € 8bn and mainly in cash. Following the disposal of Spain for € 5bn , this transaction would enable a swift reduction in the group’s debt and an exit from a tough country.Vodafone implies valuation multiples at 26x EBITDAaL-capex for 2024e and 7.6x EBITDAaL for 2024, based on the consensus compile...
Underlying
Vodafone Group Plc

Vodafone Group provides mobile and fixed telecommunication services including: access charges, voice and video calls, messaging, interconnect fees, fixed and mobile broadband and related services such as providing televisual and music content, connection fees and equipment sales. Co. provides a range of consumer products and services including mobile, fixed voice, broadband and television, financial as well as other services to operators outside its footprint. Co. also provides a range of enterprise products and services including total communications such as mobile, fixed and a suite of converged communications services, internet of things, cloud and hosting and carrier services.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Stephane Beyazian

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