Swisscom Acquires Vodafone Italia in Landmark Deal
Deal News | Jan 17, 2025 | White & Case
In a significant European telecommunications sector event, Swisscom, Switzerland's largest telecom company, alongside its Italian subsidiary Fastweb, has completed its acquisition of Vodafone Italia. The US$8.3 billion acquisition, closed on December 31, 2024, represents a major shift in the Italian telecom landscape. The deal spanned multiple regulatory hurdles, being scrutinized and eventually cleared by Italy's Antitrust Authority (AGCM) after an intensive phase-two investigation and following Swisscom's commitment to behavioral remedies. It also passed the Foreign Subsidies Regulation (FSR) review conducted by the European Commission. The transaction creates a major converged competitor in the Italian market with over 20 million mobile customers and more than 5.6 million fixed lines. White & Case LLP, a global law firm, played a crucial advisory role in guiding these companies through complex regulatory landscapes, with a team led by partner Kasia Czapracka and supported by other key members in Brussels, London, and Milan.
Sectors
- Telecommunications
- Legal Services
Geography
- Italy – The acquisition primarily impacts the Italian telecommunications market with regulatory approval from Italy's competition authority and involvement of Italian subsidiary Fastweb.
- Switzerland – Swisscom, Switzerland's largest telecom provider and a key participant in the acquisition, is headquartered here.
- European Union – The acquisition involved the European Commission's Foreign Subsidies Regulation (FSR) review, indicating the EU's significant regulatory influence.
Industry
- Telecommunications – The article involves the acquisition within the telecommunications sector, focusing on network service providers aiming to strengthen and expand market presence.
- Legal Services – White & Case, a global law firm, played a critical advisory role in regulatory processes, highlighting the importance of legal expertise in complex M&A activities.
Financials
- US$8.3 billion – The total monetary value of the acquisition deal for Vodafone Italia by Swisscom and Fastweb.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Swisscom | Bidding Company/Buyer | Company | Switzerland's leading telecom operator and the main entity acquiring Vodafone Italia. |
| Fastweb | Bidding Company/Buyer | Company | Swisscom's Italian subsidiary involved in the acquisition to expand its market presence in Italy. |
| Vodafone Italia | Target company | Company | The Italian segment of Vodafone being acquired by Swisscom and Fastweb. |
| White & Case | Legal Advisor | Company | The international law firm advising Swisscom and Fastweb on regulatory matters related to the acquisition. |