LONDON, Feb 10 — British telecoms group Vodafone today said it had rejected an approach by French peer Iliad and private equity group Apax Partners for its Italian unit.

"Vodafone confirms it has rejected the preliminary indication of interest, as it is not in the best interests of shareholders,” a brief statement said.

Iliad on Tuesday confirmed it had bid to buy Vodafone’s Italian unit, which analysts said could cost as much as €13 billion (RM61.9 billion).

Vodafone Italia holds a 28.8-per cent share in Italy’s mobile market. — AFP