FX.co ★ Vodafone Group Completes Sale Of Vodafone Italy - Quick Facts

Vodafone Group Plc has finalized the divestiture of its Italian operations to Swisscom AG for a total of 8 billion euros. The proceeds from this transaction are earmarked for the reduction of Vodafone Group's net debt. Additionally, Vodafone's Board of Directors plans to allocate up to 2 billion euros for shareholder returns following the conclusion of the existing buyback initiative.

Vodafone and Swisscom have also reached an agreement in which Vodafone will continue supplying specific services to Vodafone Italy over a span of up to five years.