(Bloomberg) -- Iliad SA, the French carrier backed by telecom billionaire Xavier Niel, made a bid for all of Vodafone Group Plc’s Italian unit.

“Iliad has made an offer to Vodafone for the acquisition of 100% of Vodafone Italia,” Iliad’s chief executive officer, Thomas Reynaud, told Bloomberg. 

The company isn’t giving further details on the offer at this stage. Bloomberg reported yesterday that the French company submitted a bid to Vodafone’s board last week in an effort to consolidate the Italian market, which it entered in 2018.

A spokesman for Vodafone declined to comment on the Iliad offer.

Vodafone is currently looking for merger opportunities in the U.K., Spain, Italy and Portugal, Chief Executive Officer Nick Read said on Wednesday. Bloomberg previously reported that activist investor Cevian Capital AB has taken a stake in Newbury, England-based Vodafone and is agitating for change, including selling some operations or pursuing stock buybacks. 

Read more : Billionaire Niel’s Iliad Said to Bid for Vodafone Italy Unit

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