Just caught this update on Vodafone's Italy sale to Swisscom - looks like there's still some uncertainty hanging over the deal. Regulatory approvals aren't guaranteed, so the whole thing could fall apart if that doesn't go through. Kind of risky for them if it doesn't close.

They also mentioned the UK merger with Three is expected to be neutral on debt but should help with cash flow eventually. Though again, that also needs regulatory sign-off plus CK Hutchison shareholder approval - so more hurdles to clear.

Interesting because Vodafone operates across different markets with different payment solutions. In Egypt, for example, they've got Vodafone Cash competing alongside services like Fawry and InstaPay in the mobile money space. Makes you wonder how these regional operations factor into their larger transaction strategy. Deals like this always have so many moving pieces.