The European Commission has approved the acquisition of Vodafone Italia by Swisscom under the foreign subsidies regulation in a deal worth €8 billion.

Swisscom, the Switzerland-based telco, plans to merge Vodafone Italia with Fastweb, its subsidiary in Italy.

“Swisscom has been operating successfully in Italy since the acquisition of Fastweb in 2007. Over this period, we have built a strong track record of investment and profitable growth in Italy. The industrial logic of this merger is very strong. Fastweb and Vodafone Italia are an ideal fit to create high added value for all stakeholders. As a result, private and business customers will benefit from the most comprehensive offer. Swisscom will also be strengthened as a whole, allowing us to continue making significant investments in the Swiss and Italian market,” Swisscom CEO Christoph Aeschlimann said in March when the deal was first announced.

The deal is still subject to other regulatory approvals, including that of the Italian competition authority. Swisscom said that it expects the transaction to be completed in the first quarter of 2025.

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Categories: Articles, Business, M&A, Telco

Tags: European Commission, fastweb, italy, Swisscom, Vodafone