Vodafone has finalized the sale of its Italian operations to Swisscom for €8 billion in cash on January 2, 2025. The transaction values Vodafone Italy at 7.6x consensus Adjusted EBITDAaL and c.26x OpFCF for FY24, representing the highest OpFCF multiple of any Vodafone market transaction in the last decade.As part of the deal, Vodafone will continue providing certain services to Vodafone Italy for up to five years post-completion, with an estimated annual charge of €350 million for the first year. The sale proceeds will be used to reduce Vodafone Group's net debt, with plans to return up to €2 billion to shareholders once the current buyback program is completed.The transaction, announced on March 15, 2024, marks a significant step in Vodafone's strategic restructuring. The company, which serves over 330 million customers across 15 countries, aims to focus on its European and African operations while progressing towards its net zero emissions goal by 2040.

Vodafone has finalized the sale of its Italian operations to Swisscom for €8 billion in cash on January 2, 2025. The transaction values Vodafone Italy at 7.6x consensus Adjusted EBITDAaL and c.26x OpFCF for FY24, representing the highest OpFCF multiple of any Vodafone market transaction in the last decade.As part of the deal, Vodafone will continue providing certain services to Vodafone Italy for up to five years post-completion, with an estimated annual charge of €350 million for the first year. The sale proceeds will be used to reduce Vodafone Group's net debt, with plans to return up to €2 billion to shareholders once the current buyback program is completed.The transaction, announced on March 15, 2024, marks a significant step in Vodafone's strategic restructuring. The company, which serves over 330 million customers across 15 countries, aims to focus on its European and African operations while progressing towards its net zero emissions goal by 2040.