Swisscom AG announced Tuesday that it has secured approval from the European Commission for its €8 billion ($8.9 billion) acquisition of Vodafone Italia SpA. The deal, cleared under the European Union’s Foreign Subsidies Regulation, marks a critical step in Swisscom’s move to expand its footprint in the Italian telecommunications market.
This approval comes after the commission reviewed the transaction to ensure it wouldn’t distort the EU’s single market due to potential foreign subsidies. Swisscom, which is majority-owned by the Swiss government, has been working toward securing the necessary regulatory clearances to finalize the acquisition.
Swisscom €8B Vodafone Italia Deal : Strategic Merger with Fastweb
The Vodafone Italia deal, first announced in March, is part of Swisscom’s strategy to consolidate its operations in Italy by merging Vodafone Italia with its subsidiary, Fastweb SpA. Vodafone Group’s decision to sell the Italian unit is part of its broader effort to streamline its European operations and exit the Italian market.
