Swisscom to acquire Vodafone Italy for €8 billion15 Mar 2024 06:39
Swisscom, a major telecommunications provider in Switzerland, announced on Friday its intention to acquire the Italian branch of Vodafone Group Plc for €8 billion. The acquisition aims to merge Vodafone Italy with Swisscom's own Italian subsidiary, Fastweb.
"Vodafone Italia and Fastweb will bring together complementary high-quality mobile and fixed infrastructures, competencies, and capabilities to create a leading converged challenger in a market with material growth opportunities," Swisscom said in a statement.
The deal is pending regulatory approval and meeting customary requirements. However, Swisscom has confirmed that it will not require a vote from its shareholders and that the transaction is expected to close in the first quarter of 2025.