“The transaction was completed on December 31, 2024,” Swisscom announced in a press release on Thursday.
Swisscom had previously expected the €8 billion deal to be completed in the first quarter of 2025. The slightly earlier completion was made possible because Swisscom had already received all the necessary approvals from the Italian authorities by December 20.
As the transaction was completed in 2024, costs of up to €200 million will now be taken into account in Swisscom’s 2024 financial statements. Swisscom is therefore lowering its targets for operating profit before depreciation and amortisation (EBITDA) for 2024: the telecoms group is now forecasting EBITDA of CHF4.3-4.4 billion, having previously targeted CHF4.5-4.6 billion.
More
More
Swisscom receives greenlight for acquisition of Vodafone Italia
This content was published on
The takeover of Vodafone Italia by Swisscom is nearing completion. All relevant authorities have now approved the €8 billion (CHF7.45 billion) deal.
There will be no impact on free cash flow in 2024, Swisscom added. The outlook for revenue, investments and dividends for 2024 remains unchanged. The telecoms group is therefore still aiming for revenue of around CHF11.0 billion.
Investments are expected to amount to around CHF2.3 billion. If these targets are achieved, Swisscom will again pay a dividend of CHF22 per share.
Rise to number two in Italy
Following the purchase of Vodafone Italia announced in February, the Swiss group will become the second-largest telecoms provider in Italy behind TIM.
Vodafone Italia is to be merged with the Italian Swisscom subsidiary Fastweb. According to earlier statements, this will create a company with a combined turnover of €7.3 billion and a combined EBITDA of €2.4 billion.
Vodafone Italy and Fastweb are expected to complement each other: while Fastweb has a broadband network, Vodafone Italia offers a mobile network. The merger of the two companies is expected to generate annual synergies of around €600 million from 2029.
The joint company will be called Fastweb + Vodafone. Fastweb CEO Walter Renna was appointed in July.
The integration process of Fastweb and Vodafone Italia will begin immediately, Swisscom added. The two companies will be managed by the newly appointed executive committee, which consists of executives from Fastweb and Vodafone Italia. The existing commercial brands Fastweb, Vodafone and Ho will be retained.
Adapted from French by DeepL/sb
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.
If you want to know more about how we work, have a look here, if you want to learn more about how we use technology, click here, and if you have feedback on this news story please write to english@swissinfo.ch.
What factors should be taken into account when inheriting Swiss citizenship abroad?
Should there be a limit to the passing on of Swiss citizenship? Or is the current practice too strict and it should still be possible to register after the age of 25?
Is your place of origin, your Heimatort, important to you?
Every Swiss citizen has a Heimatort, a place of origin, but many have never visited theirs. What’s your relationship with your Heimatort? What does it mean to you?
Free trade remains ‘core’ Swiss value despite Trump tariffs
This content was published on
Swiss President Karin Keller-Sutter says Switzerland remains committed to free trade despite a new 31% tariff on Swiss exports to the United States.
This content was published on
The new regulation targets plants developed through new breeding technologies that don’t include transgenic genetic material.
WHO faces $1.8 billion budget shortfall amid US withdrawal
This content was published on
The 2026-2027 budget for the Geneva-based organisation has been reduced to $4.2 billion, on top of this year’s $600 million shortfall.
Swiss government proposes lifting nuclear power ban
This content was published on
While the centre-right and the energy sector are welcoming the Swiss government’s counter-proposal, the Greens are threatening to call a referendum.
Switzerland provisionally signs agreement on EU programmes
This content was published on
The agreement on EU programmes covers Switzerland’s involvement in initiatives like Horizon Europe, Euratom, ITER, Digital Europe, Erasmus+, and EU4Health.
Record-breaking winter for Swiss tourism driven by foreign visitors
This content was published on
A survey by Switzerland Tourism suggests this winter has outdone last season's record, largely thanks to foreign visitors and favourable weather conditions.
Swiss study predicts rise in global antibiotic use in farming
This content was published on
Global antibiotic use in livestock farming could rise by 2040, says a study by FAO and the University of Zurich. Switzerland expects minimal change.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.