Vodafone rejects revised Iliad offer to merge Italian businesses

(Sharecast News) - Iliad said on Wednesday that Vodafone had rejected its revised offer to merge the two companies' Italian businesses. The French telecoms firm said in December that it had submitted a proposal to merge the Italian businesses. The new offer would have given Vodafone €6.6bn in cash and a €2bn shareholder loan. Meanwhile, Iliad would have received €400m in cash and a €2bn loan.

"The Iliad Group is confident that the offer presented was the best possible business combination to benefit a struggling Italian market and telecommunications industry," it said.