Swisscom – Vodafone Italy Merger Clears Another Hurdle

Italian communications authority AGCOM approved Swisscom’s proposed purchase of Vodafone’s unit. The buyer is confident the deal is on track for completion in early 2025 despite still needing to get through a competition probe.

Swisscom announced the regulator had cleared the proposed €8 billion deal unconditionally, having looked into the expected impact on the competitive and pluralistic structure of the Italian market for audiovisual media services. The deal has already been given the nod by the Presidency of the Council of Ministers in Italy, the Swiss Competition Commission, and the EU Commission under foreign subsidies rules.

Among other approvals required is the green light from Italian competition authority AGCM, which opened an in-depth probe into the deal in September. At the time the authority raised initial concerns related to competition in the country’s fixed wholesale and retail markets. Swisscom offered AGCM several fresh remedies in an attempt to get its purchase over the line, including providing access to its Fastweb fiber infrastructure to competitors to help them serve corporate and public sector clients.

Swisscom’s buy of Vodafone’s business in Italy has been in the works since March 2024 and is scheduled to close in early 2025, a timeline the company still expects to meet. “The approval is another important step on the way to securing the regulatory approvals needed to finalize the transaction,” Swisscom noted. In its financial results statement, Vodafone Group struck a similarly confident tone, describing the deal as nearing conclusion with the competition authority decision due by 10 December. Once complete, Swisscom plans to merge Vodafone Italia with its Fastweb fixed business to provide converged services.