Swisscom: acquires Vodafone Italia

(CercleFinance.com) - Swisscom has successfully completed the acquisition of Vodafone Italia after obtaining all regulatory approvals.


The group has obtained the green light from the Italian competition authority (Autorità Garante della Concorrenza e del Mercato) and the Ministry of Enterprise and Made in Italy (MIMIT) for the acquisition of Vodafone Italia.

Fastweb and Vodafone Italia bring together complementary high-quality mobile and fixed infrastructures, skills and capacities to create a leading convergent challenger in Italy: Fastweb + Vodafone, it says.

Due to its early closing, Swisscom will revise its EBITDA guidance for 2024.

Costs of up to E200m will be recognized in Swisscom's 2024 financial statements. These costs relate to the planned exit from existing mobile network sharing and MVNO agreements as part of the migration of Fastweb mobile customers to the Vodafone Italia network, and form part of integration costs.

Its revised 2024 EBITDA forecast therefore amounts to 4.3-4.4bn CHF (vs. 4.5-4.6bn CHF previously), with no impact on free cash flow in 2024. Forecasts for 2024 sales, capital expenditure and dividend remain unchanged.


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