Britain’s Vodafone confirms sale of Italian arm to Swisscom for $8.7 billion
LONDON (AP) — British cellphone company Vodafone confirmed Friday that it is selling its Italian business to Switzerland’s Swisscom for 8 billion euros ($8.7 billion) and will hand back half of the proceeds to its shareholders through the buyback of company shares.Vodafone said the move, with talks first announced Feb. 28, represented an “attractive valuation”