The European Commission has approved the acquisition of Vodafone Italia by Swisscom. The announcement marks a significant milestone in the €8 billion deal, which was first disclosed in March and officially notified to the EU in August. The green light was granted under the Foreign Subsidies Regulation, signifying an important move towards finalizing the transaction.
However, the deal is still under review by the Italian Competition Authority, which has launched an in-depth investigation to understand its impact on market competition. Swisscom anticipates finalizing the acquisition by the first quarter of 2025.
Upon completion, Swisscom intends to merge Vodafone Italia with its Italian subsidiary, Fastweb. This merger will create Italy’s second-largest fixed-line broadband provider, second only to Telecom Italia. According to Swisscom, the merger is expected to save around €600 million through increased scale and efficiency.
The CEO of Swisscom, Christoph Aeschlimann, called the merger a “strong strategic fit,” emphasizing it will add significant value to both companies. As part of the deal, Vodafone will continue to supply services to Swisscom for the next five years.
This acquisition is in line with Vodafone’s broader strategy to streamline its European operations. The company has been selling off or merging various business units across Europe, including the sale of its Spanish business and a merger with Three in the UK.
