Vodafone Group PLC (LSE:VOD)’s plans to dispose of or merge its Italian business is in doubt as just one interested party reportedly remains interested in such a deal.
A tie-up with Swisscom’s Fastweb business remains Vodafone’s sole option in rescuing its Italian division, according to Reuters.
A merger offer by French group Iliad was rejected in January, according to Vodafone, with the proposal valuing its Italian operations at just over €10 billion.
However, Vodafone warned that there could be “no certainty that any transaction will ultimately be agreed,” with Thursday’s reports suggesting any agreement was on its last legs.
Growing competition in Italy had previously been cited as the reason for Vodafone to sell or merge its business there, which has seen revenues decline and margins squeezed in recent years.