Italy’s Competition Authority opens in-depth investigation, as expected, and Swisscom expects the deal to go through in the first quarter of next year
Italy’s Competition Authority (Autorità Garante della Concorrenza e del Mercato) has opened an in-depth investigation (Phase II) to assess the acquisition of Vodafone Italia by Swisscom under the country’s merger rules.
Swisscom says that Phase II reviews “are not uncommon in the telecommunications sector” and that it “remains convinced that the transaction is pro-competitive”. The Swiss operator said in a statement, “We will continue to work closely and constructively with the Italian Competition Authority to secure a timely clearance.
“Swisscom will keep the market updated of any significant developments.”
Overall, completion of the Vodafone Italia transaction is on track. After the announcement of Swisscom’s plan to acquire Vodafone Italia on 15 March 2024, the Swiss operator secured the financing for the purchase price of €8 billion in May.
It has received unconditional approval from both the Presidency of the Council of Ministers in Italy (Golden Power legislation) and the Swiss Competition Commission.
The transaction is still subject to further regulatory approvals.