Swisscom successfully concluded its acquisition of Vodafone Italia on December 31, 2024, following regulatory approvals. The merger of Swisscom’s Italian subsidiary Fastweb and Vodafone Italia creates a converged challenger in the Italian market, operating under the new brand Fastweb + Vodafone. This combination aims to unlock significant value, boosting investments in Italy’s telecommunications sector.
According to Swisscom, the merger will leverage Fastweb’s fixed connectivity strengths and Vodafone Italia’s mobile leadership to deliver innovative, competitively priced services to Italian consumers and businesses. The anticipated annual run-rate synergies are estimated at €600 million, driven by increased scale and a more efficient cost structure.
“We herald a new era in Italian telecommunications. By embracing the opportunity of combined forces, we create a stronger, more innovative organisation to lead Italy into a sustainable digital future, empowering people, businesses and public administrations,” stated Walter Renna, CEO of Fastweb + Vodafone.
Swisscom CEO Christoph Aeschlimann added: “I am thrilled about the successful closing, as it strengthens Swisscom Group. The improved positioning in Italy will create long-term value for all stakeholders – thanks to growing cashflows and dividends in the future. At the same time, the focus on the Swiss market remains unchanged with continued high investments in innovation, top-quality service, and next-generation infrastructure.”
The integration of Fastweb and Vodafone Italia is now underway. The combined entity will operate under the Fastweb + Vodafone brand, while existing commercial brands Fastweb, Vodafone, and ho. will be retained. Integration costs, including those related to exiting existing MVNO and mobile network-sharing agreements, are estimated at up to €200 million and will be reflected in Swisscom's 2024 financial statements. This results in a revised EBITDA guidance of CHF 4.3-4.4 billion for 2024 (previously CHF 4.5-4.6 billion), with no impact on free cash flow.