Iliad’s bid to acquire assets of Italian mobile operator Wind sent shares in incumbent Telecom Italia spiralling downwards by almost 10% as shareholders braced themselves for market disruption similar to that inflicted on France by Iliad’s Free Mobile launch. However, the Italian market is very different to the French one which Free entered in 2012, and the company will have challenges in replicating its French successs – not least a possible legal challenge from fixed-line provider Fastweb, which was also after the Wind/3 assets, and has asked the European Commission to probe the viability of the Iliad plan. Iliad, the French cable/wireless group, has agreed to acquire a portfolio of base stations, spectrum and other assets, which Vimpelcom-owned Wind proposes…