Vodafone confirmed that its €8 billion sale of Vodafone Italy to Swisscom AG will no longer require shareholder approval under new UK Listing Rules effective July 29, 2024. The transaction is expected to have a neutral impact on Vodafone's net assets, with the company targeting a leverage policy of 2.25x - 2.75x Net debt to Adjusted EBITDAaL.For the fiscal year ending March 31, 2024, Vodafone Italy reported gross assets of €12 billion and a loss before tax of €268 million. The Board has confirmed that the transaction serves the best interests of security holders, though completion remains subject to regulatory approvals.Key risks identified include potential failure to obtain regulatory approvals and possible liability under transaction documentation, which includes customary warranties and post-completion service obligations. The deal, originally announced on March 15, 2024, represents a significant strategic move in the European telecommunications sector.

Vodafone confirmed that its €8 billion sale of Vodafone Italy to Swisscom AG will no longer require shareholder approval under new UK Listing Rules effective July 29, 2024. The transaction is expected to have a neutral impact on Vodafone's net assets, with the company targeting a leverage policy of 2.25x - 2.75x Net debt to Adjusted EBITDAaL.For the fiscal year ending March 31, 2024, Vodafone Italy reported gross assets of €12 billion and a loss before tax of €268 million. The Board has confirmed that the transaction serves the best interests of security holders, though completion remains subject to regulatory approvals.Key risks identified include potential failure to obtain regulatory approvals and possible liability under transaction documentation, which includes customary warranties and post-completion service obligations. The deal, originally announced on March 15, 2024, represents a significant strategic move in the European telecommunications sector.