LONDON : Vodafone boss Margherita Della Valle has bagged her first win with a merger deal in Britain, but the time it took to get there and the tortuous road ahead shows the scale of the challenge she faces to turn around the telecoms group.
The two sides first revealed they were in talks in October, 2022. They hope to close the deal, if they can secure regulatory and political approval, by the end of 2024, meaning they must wait another 18 months before any synergy savings or improvement in performance can start to hit the bottom line. One large institutional investor told Reuters they appreciated the changes Della Valle was pursuing but they had struggled to understand why the British deal had taken so long to come together and said they wanted to see more action soon.
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