By Sonya Rabbitte, 12 June 2000 16:53
NEWS Vodafone is considering floating up to 49 per cent of Italian subsidiary, Infostrada, in a move that could raise over £4bn for the mobile operator. The planned flotation could help finance Vodafone's plans to buy and build third generation mobile networks throughout the world, a strategy that is estimated to cost the company between £32bn and £58bn. Vodafone acquired Infostrada during the £113bn takeover of Mannesmann. If the flotation does go ahead, it will go against an agreement made under the acquisition deal where Vodafone pledged to retain all the fixed line businesses operated by Mannesmann. Infostrada is a fixed-line telephone operator, and Italy's second largest Internet service provider.
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