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Swisscom first announced the €8 billion deal back in March, and notified the EU in August
The European Commission has given the green light to Swisscom’s acquisition of Vodafone Italia, without conditions. The clearance, granted under the Foreign Subsidies Regulation, is a crucial step toward finalising the transaction.
The Italian Competition Authority is still reviewing the deal, having launched a deeper investigation earlier this month to assess the transaction’s impact on market competition, Swisscom noted.
Swisscom expects the deal to be finalised by the first quarter of 2025.
Once completed, Swisscom plans to merge Vodafone Italia with its Italian subsidiary, Fastweb, creating Italy’s second-largest fixed-line broadband provider, behind market leader Telecom Italia.
The merger is expected to save around €600 million through synergies related to increased scale and efficiency, Swisscom says.
Swisscom’s CEO, Christoph Aeschlimann, called the merger a “strong strategic fit”, saying it will add significant value to both companies.
Vodafone will also continue to provide services to Swisscom for the next five years as part of the deal.
The transaction forms part of Vodafone’s broader strategic efforts to streamline its European footprint in recent years. This shift has involved selling off or merging various business units across Europe, including the sale of its Spanish business and a merger with Three in the UK.
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