WORBLAUFEN (dpa-AFX) - Telecom service provider Swisscom AG (SWZCF.PK, SCMWY.PK) said it received clearance for the acquisition of Vodafone Italia from both the Italian Competition Authority and the Ministry of Enterprises and Made in Italy.
Swisscom expects the transaction to complete by the first-quarter of 2025.
It was in March that Swisscom agreed to acquire Vodafone Italy for an enterprise value of 8 billion euros. Following this, Swisscom in mid August notified the deal to the EU Commission, Directorate-General for Competition, under the Foreign Subsidies Regulation.
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