By Ian Walker and Najat KantouarVodafone Group shares dropped and are leading the FTSE 100 index fallers after the company rejected a revised proposal to merge its Italian businesses with Iliad Group's. However, Vodafone said that it is no longer in talks with Iliad, but talks with others continue. In December, Iliad Group said that it was planning to create a new company jointly owned with Vodafone that will combine their Italian businesses. Under the previous proposal, Vodafone would get EUR6.5 billion in cash and a EUR2.0 billion shareholder loan. Iliad would get EUR500 million in cash and a EUR2.0 billion shareholder loan.

Source: Wall Street Journal January 31, 2024 10:11 UTC