Acquisition of Vodafone Italia
The Italian Competition Authority (Autorità Garante della Concorrenza e del Mercato) announced on 11 September 2024, that it had opened an in-depth investigation (Phase II) to assess the acquisition of Vodafone Italia by Swisscom under Italy’s merger control rules.
Phase II reviews are not uncommon in the telecommunications sector. Swisscom remains convinced that the transaction is pro-competitive. We will continue to work closely and constructively with the Italian Competition Authority to secure a timely clearance. Swisscom will keep the market updated of any significant developments.
Overall, completion of the Vodafone Italia transaction is on track. Following the announcement of the acquisition of Vodafone Italia on 15 March 2024, Swisscom secured the financing for the purchase price of EUR 8 billion in May 2024. In addition, it has received unconditional approval from both the Presidency of the Council of Ministers in Italy (Golden Power legislation) and the Swiss Competition Commission. The transaction is still subject to further regulatory approvals. In line with our original announcement dated 15 March 2024, we expect the transaction to complete in the first quarter of 2025.