The Italian Competition Authority (Autorità Garante della Concorrenza e del Mercato) has opened an in-depth investigation to assess the acquisition of Vodafone Italia by Swisscom under Italy’s merger control rules. This move follows Swisscom's announcement in March 2024 of its intention to acquire Vodafone Italia for €8 billion.
Swisscom acknowledged the investigation in a statement, emphasizing that Phase II reviews are not uncommon in the telecommunications sector. “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,” the company stated.
Despite the investigation, Swisscom remains confident that the transaction is pro-competitive and expects the deal to be finalized in the first quarter of 2025. The company has already secured financing for the purchase price and obtained approvals from the Presidency of the Council of Ministers in Italy (Golden Power legislation) and the Swiss competition commission. However, the transaction is still subject to further regulatory approvals.