Swisscom has filed a formal notification with the Italian competition authority concerning its mid-March acquisition of Vodafone Italia, in order to obtain the necessary regulatory approvals to finalise the €8 billion transaction.
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The finalisation of this takeover “is on track overall”, said Swisscom on Tuesday in a press release, adding that it had already received the green light from the presidency of the Council of Ministers in Italy and the Competition Commission in Switzerland.
The operation still needs to be approved by other bodies, but is due to be completed in the first quarter of 2025.
In May, Swisscom announced that it had issued €4 billion in fixed-rate bonds to finance the takeover of transalpine mobile network operator Vodafone Italia. The balance of the bill will be covered by two existing bank loans for a total of €3 billion.
In March, Switzerland’s incumbent operator signed an agreement with its British counterpart, Vodafone Group, to acquire the whole of Vodafone Italia for €8 billion (CHF7.6 billion) in cash.
The latter is to be merged with Fastweb, Swisscom’s transalpine subsidiary.
Translated from French by DeepL/mga
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