Swisscom Acquires Vodafone’s Italian Business for €8 Billion, Plans Merger With Fastweb


Swisscom Acquires Vodafone’s Italian Business for €8 Billion, Plans Merger With Fastweb

Vodafone Group Plc has reached an agreement to sell its Italian business to Swisscom AG for €8 billion ($8.7 billion) in cash. In addition to this sale, Vodafone also announced plans to repurchase €4 billion in stock in an effort to improve its share price and simplify its operations.

The acquisition will involve merging Vodafone Italia with Swisscom’s Fastweb SpA Italy subsidiary. The deal is set to be finalized in the first quarter of 2025, as stated in a joint statement released by both companies. This agreement confirms an earlier report by Bloomberg regarding the potential transaction.

Swisscom, a telecommunications company based in Switzerland, is majority-owned by the Swiss government, which has expressed its support for the deal. By selling its Italian business and reinvesting in its own stock, Vodafone aims to optimize its business strategy and generate value for its shareholders.

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