Vodafone to acquire Tele2 units

Vodafone has moved to acquire the Italian and Spanish units of Sweden's Tele2 for about €775 million ($1.1 billion). Tele2 has both wireline and wireless assets, and the deal follows reports that Vodafone was in the market for wireline broadband assets that might complement its international mobile properties.

That might seem like a strange gamble for one of the world's top mobile players, but consider that many mobile markets are fairly saturated, while wireline broadband certainly has room to grow.

For more:
- See this piece in The TimesOnline (London Times)