MALTESE MERGER

Telecoms firm Vodafone has announced it is merging its Malta business with the country’s leading cable, broadband and pay-TV provider. The Maltese company, Melita, will own 51pc of the combined company while Vodafone europe will own the remaining 49pc. Vodafone will receive about £103m from the deal. Its shares closed up 0.5pc, or 1.1p, to 225.35p.