Atlas Investissement, an investment vehicle of Iliad, has acquired a 2.5 per cent stake in Vodafone Group Plc. Atlas Investissement said it was supportive of Vodafone’s publicly stated intention to pursue consolidation opportunities, as well as its efforts in infrastructure separation.

However, in February 2022, Vodafone had rejected an €11.25 billion offer for its Italian business from Iliad and Apax Partners, saying it was not in the best interest of its shareholders.