Italy: Italian government approves Swisscom's acquisition of Vodafone Italy

May 21, 2024 | Posted by Abdul-Rahman Oladimeji

Swisscom revealed that the Italian Presidency of the Council of Ministers "unconditionally approved the acquisition pursuant to the golden power legislation." Swisscom noted that it was informed that its acquisition of Vodafone would not threaten competition within the Italian telecoms market.

"Overall, the completion of the Vodafone Italia transaction is on track; it remains subject to further regulatory and other customary approvals," said Swisscom, which expects the deal to close during the first quarter of 2025.

Swisscom said the deal will be debt-financed and paid for in cash. The merger will combine 3.4 million Fastweb customers with Vodafone's 20 million, making it the second-biggest telco in Italy behind struggling Telecom Italia (TIM).