Swisscom's $9 Billion Deal to Buy Vodafone Italia Probed by Italian Competition Regulator

By Adam Whittaker

The Italian competition regulator opened an in-depth probe into Swisscom's $8.81 billion acquisition of Vodafone Italia.

The Autorita Garante della Concorrenza e del Mercato said it had opened a phase-two investigation on Wednesday, Swisscom said.

No timeline for the completion of the investigation was provided but Swisscom said Thursday that it would work with the competition authority to secure a timely clearance.

Phase two investigations aren't uncommon in the telecommunications sector, Swisscom said. The company remains convinced that the transaction to buy Vodafone Italia is pro-competitive, it said.

Swisscom said in March that it was acquiring Vodafone Italia for 8 billon euros. The deal received unconditional approval from Italian lawmakers and the Swiss competition regulator, Swisscom said.

The deal is still subject to further regulatory approvals but Swisscom expects the transaction to complete in the first quarter of 2025.

Write to Adam Whittaker at adam.whittaker@wsj.com

(END) Dow Jones Newswires

September 12, 2024 02:40 ET (06:40 GMT)

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