20th Dec 2024 21:36
(Alliance News) - Swisscom AG on Friday said it received clearance for the acquisition of Vodafone Italia.
The Ittigen, Switzerland-based telecommunications provider said it received clearance from both the Italian Competition Authority and the Ministry of Enterprises & Made in Italy.
"This paves the way to the creation of a leading converged challenger in Italy, as all competent authorities approved the transaction," Swisscom said.
It expects the acquisition to complete by the first quarter of 2025.
The EUR8 billion deal to buy Vodafone Italia was announced back in March.
Swisscom shares had closed 0.6% lower at CHF498.40 each on Friday in Zurich, while Vodafone Group PLC shares had closed 0.9% lower at 66.44 pence each in London.
By Tom Budszus, Alliance News slot editor
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