Iliad Says Vodafone Rejected Its Offer for Italian Unit

Iliad said that Vodafone Group Plc rejected a revised offer to combine the two companies’ Italian businesses.

Iliad’s latest offer was to create a joint venture that would give Vodafone €6.6 billion ($7.1 billion) in cash and a €2 billion shareholder loan while Iliad would get €400 million in cash and a €2 billion loan, the company said in a statement on Wednesday.

Read More: Iliad Bids for Vodafone Italy Control at €10.5 Billion Value

The company said it will pursue a standalone strategy in the market instead and “fiercely pursue market share gains.” Vodafone had previously rejected an €11.25 ...