M&A in Southern Europe as Iliad and Orange reportedly make overtures

Iliad has reportedly made a takeover bid for Vodafone’s Italian unit, while Orange is exploring the possibility of a merger with MasMovil in Spain, according to the industry rumour mill.
It’s hardly surprising that mergers and acquisitions are on the cards in those two Southern European markets, where the competitive environment has been fierce for some time. And the players involved are also some of the most likely candidates to be shaking things up.
Furthermore, the Italy story is