Italian Antitrust lighthouse on theacquisition of Vodafone Italy by Swisscom. The Authority has in fact started athorough investigation (Phase II) on the operation under the Italian regulations on the control of concentration operations. The announcement comes through a note from the Swiss group which underlines how the Phase II investigations are not unusual in the telecommunications sector.
Swisscom: “The operation does not harm competitiveness”
According to Swisscom, the operation “does not harm competitiveness. We will continue to work closely and constructively with the Italian Antitrust Authority to obtain a timely authorization. Swisscom will inform appropriately as soon as there are significant developments”, the company said.
Swisscom also explains that the acquisition of Vodafone Italy “proceeds in accordance with the pre-established times“: the group has secured financing for the purchase price of 8 billion last May and received the unconditional green light from both the Presidency of the Italian Council of Ministers both by the Swiss Competition Commission.
“We expect the transaction to close in first quarter of 2025” concludes Swisscom.
The acquisition of Vodafone Italy
The Acquisition of Vodafone Italy by Swisscom was announced on March 15th. The Swiss giant, the main Swiss telecommunications company, has signed a binding agreement with the Vodafone Plc group to purchase 100% of Vodafone Italy for 8 billion euros, with the aim of integrate it with Fastweb, its subsidiary in our country, to create a “leading convergent operator in the country”. The two activities generate a total revenue of 7 billion in Italy.
“As Swisscom has highlighted, an in-depth analysis of proposed transactions in the telecommunications sector is not unusual, as it has already happened in recent deals in Spain and the UK,” commented Intesa Sanpaolo Research Office which does not see “a significant increase in the risk of the deal failing; at the same time, however, in the event of negotiations on possible remedies, the current deadline for closing the deal could be at risk”.
The clarification by Swisscom and the comment by the research office of Intesa Sanpaolo seem to be confirmed by the Stock Exchange, where neither the Swisscom title, born the Vodafone shares, seem to be affected by the news. In Zurich, the former is down 0,37%. The latter is performing exactly the same in London.
