The Italian Competition Authority (Autorità Garante della Concorrenza e del Mercato) announced has opened an in-depth investigation 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 stressed in a statement, adding that it 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, according to Swisscom. Following the announcement of the acquisition of Vodafone Italia on 15 March 2024, Swisscom secured the financing for the purchase price of €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. Swisscom still expects the transaction to be completed in the first quarter of 2025.
