Swisscom seals Vodafone Italy acquisition

Swisscom has finalized its €8 billion ($8.33bn) acquisition of Vodafone Italy, noting that the acquisition is "a key step for Swisscom to achieve its strategic objective of profitable growth in Italy." Swisscom confirmed that the existing commercial brands Fastweb, Vodafone, and Ho Mobile will continue to be used.

"We herald a new era in Italian telecommunications. By embracing the opportunity of combined forces, we create a stronger, more innovative organization to lead Italy into a sustainable digital future, empowering people, businesses, and public administrations," said Walter Renna, CEO of Fastweb + Vodafone.

Swisscom CEO Christoph Aeschlimann added: "The improved positioning in Italy will create long-term value for all stakeholders – thanks to growing cashflows and dividends in the future. At the same time, the focus on the Swiss market remains unchanged with continued high investments in innovation, top-quality service, and next-generation infrastructure."