iliad takes note of Vodafone’s rejection of its €11.25 billion offer for Vodafone Italy

Paris, February 10, 2021, 05:00 p.m

iliad takes note of the rejection by Vodafone of its €11.25bn offer for Vodafone Italy. That offer had the merits:

• to reflect a very high premium for Vodafone Italy;
• to be a 100% cash offer;
• to benefit from a strong financial support from one of the top 3 European banks for the full amount and from a financial partner;
• to answer Vodafone management’s desire for consolidation in Italy;
• to be in the best interest of Vodafone’s shareholders.

iliad Italia will pursue its stand-alone strategy with its great track record:

• more than 8.5 million mobile subscribers in 3.5 years;
• a successful launch of its fixed broadband offer;
• more than 20% billed to subscribers’ revenue growth in 2021.