Swiss telecommunications provider Swisscom announced this week that the Italian Competition Authority (AGCM) has opened an in-depth investigation into its planned takeover of Vodafone Italia. Swisscom added that the Vodafone Italia transaction remains on track to be completed in the first quarter of 2025.
Also Read: Swisscom to Acquire Vodafone Italia for EUR 8 Billion
Phase II Investigation Details
"The Italian Competition Authority (Autorita Garante della Concorrenza e del Mercato) announced on September 11, 2024, that it had opened an in-depth investigation (Phase II) to assess the acquisition of Vodafone Italia by Swisscom under Italy's merger control rules," a statement from Swisscom said.
In the statement, Swisscom noted that "Phase II reviews are not uncommon in the telecommunications sector" and that "Swisscom remains convinced that the transaction is pro-competitive."
The Swiss operator said it will continue to work closely and constructively with the Italian Competition Authority to secure timely clearance and will keep the market updated on any significant developments.
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Swisscom Takeover of Vodafone Italia
Swisscom first announced the EUR 8 billion acquisition of Vodafone Italia on March 15, 2024, and secured financing by May 2024. The deal has already received unconditional approvals from both the Italian Presidency under Golden Power legislation and the Swiss Competition Commission. With further regulatory clearances pending, Swisscom expects the acquisition will close by Q1 2025.
