Swisscom reiterated that it expects the transaction to finish within the first quarter of 2025
Italy’s communications authority AGCOM has cleared the acquisition of Vodafone Italia by Swisscom with regard to the consequences of the transaction on the Italian market.
In a launch, Swisscom famous that this approval is one other necessary step on the way in which to securing the regulatory approvals wanted to completely full the transaction.
Following the announcement of the acquisition of Vodafone Italia on March 15, 2024, Swisscom notified the transaction to the AGCOM on September 17, 2024.
Swisscom mentioned it already acquired unconditional approval from the Presidency of the Council of Ministers in Italy, the Swiss Competitors Fee and the European Fee.
The Swiss telco famous that the transaction remains to be topic to 2 different regulatory approvals, together with that of the Italian Competitors Authority (AGCM). The latter introduced on September 11, 2024 that it had opened an in-depth investigation to evaluate the acquisition below Italy’s merger management guidelines.
Swisscom reiterated that it expects the transaction to finish within the first quarter of 2025.
In March, Swisscom confirmed it had entered into binding agreements with U.Okay service Vodafone Group for the acquisition of 100% of Vodafone Italia for EUR 8 billion (presently $8.43 billion) on a debt and money free foundation.
Swisscom mentioned it goals to merge Vodafone Italia with Italian telco Fastweb, Swisscom’s subsidiary in Italy.
The mix of Fastweb’s end-to-end managed wireline community and Vodafone’s 5G-based Fastened Wi-fi Entry (FWA) will allow the creation of a converged service within the home market, Swisscom mentioned, including that the elevated scale, extra environment friendly value construction and vital annual run-rate synergies of almost EUR 600 million will allow the mixed entity to unlock vital worth for all stakeholders and provide revolutionary converged companies.
Swisscom mentioned that the transaction is a key step for the corporate to realize its strategic goal of worthwhile progress in Italy. Via this transaction Swisscom reinforces its presence within the Italian market, the place it has been working since 2007 by Fastweb.
As a part of the deal, the mixed entity and Vodafone Group will enter into a number of transitional and long-term service agreements, together with a model license settlement, which allows the usage of the Vodafone model in Italy for as much as 5 years post-closing.
The deal additionally stipulates that Swisscom and Vodafone Group are exploring a better business relationship to allow collaboration throughout a broad vary of areas, past Italy. The important thing areas of business collaboration that Vodafone and Swisscom are exploring embody IoT, enterprise companies and options, procurement, operational shared companies and roaming.
Christoph Aeschlimann, CEO of Swisscom, beforehand mentioned that personal and enterprise clients will profit from essentially the most complete provide after the acquisition.
