Swisscom buys Vodafone Italia for 8 billion

John

By John

Swisscom has entered into binding agreements with the Vodafone Plc group for the acquisition of 100% of Vodafone Italia for 8 billion euros with the aim of integrating it with Fastweb, its subsidiary in Italy. The combination of high-quality complementary mobile and fixed infrastructures, as well as the skills and assets of Fastweb and Vodafone Italia, will create a leading convergent operator in Italy. Swisscom announced this in a note.

Swisscom thus strengthens its presence in Italy where it has been operating with Fastweb since 2007. ¬ęThe transaction will create an operator with convergent assets and the appropriate size to compete effectively in the market and increase the level of competition in the country. NewCo will also continue to make its high-quality fixed and mobile infrastructures available to third parties for wholesale access services” underlines a note.

The closing of the operation “will not require a vote of Swisscom shareholders” and is expected to occur in the first quarter of 2025. The newco and the Vodafone group will stipulate some transitional and long-term service agreements, including a licensing agreement that allows the use of the Vodafone brand in Italy for a maximum of 5 years after the closing, Swisscom specifies.