Iliad wants to finalise JV proposal for Vodafone Italy by end-January

LONDON/MILAN: French telecoms group Iliad wants to finalise a proposal to Vodafone Italy to combine their Italian operations in a joint venture by the end of January, two sources briefed on the matter said.

Vodafone CEO Margherita Della Valle, under pressure to improve profitability, said last month the British group was reviewing options for its Italian operation, the last of three troubled European markets she had said need to be fixed.

Total revenue in the Italian market has fallen by 21% in the last decade to 27.1 billion euros ($29.6 billion), according to trade association Asstel, amid cut-throat price competition.