WORBLAUFEN (dpa-AFX) - Vodafone Group Plc (VOD.L, VOD) said it has completed the sale of its Italian operations to Swisscom AG (SWZCF.PK, SCMWY.PK) for 8.0 billion euros. The Group noted that the proceeds from this sale will be used to reduce Vodafone Group net debt and the Board will target to return to shareholders up to 2.0 billion euros, once the current buyback programme has completed.
Vodafone and Swisscom have entered into an agreement whereby Vodafone will continue to provide certain services to Vodafone Italy for a period of up to five years.
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