M&A & Investments Telefonica’s main shareholders have reportedly signed off on an acquisition bid for Vodafone Spain, the company that has been turned around since being acquired by Zegona Communications in 2024 for some €5 billion. Should Zegona say no, or demand too high a return on its investment, 1&1 in Germany is reportedly another target candidate. Reliance Industries has confirmed that it will launch the Reliance Jio IPO in early 2026. It plans to raise around $6 billion, on a valuation of around $112 billion. Reliance chairman Mukesh Ambani also confirmed the creation of Reliance Intelligence, which will use Google and Meta to construct AI-focused infrastructure for the Indian market. Intel’s deal with the US government contains penalties should…