Swisscom's $8.81 Billion Vodafone Italia Deal Gets EU Commission Approval
By Najat Kantouar
Swisscom said the EU Commission cleared its $8.81 billion acquisition of Vodafone Italia, taking the deal a step closer to securing the regulatory approvals needed to complete.
The European Commission, the EU's executive arm, said Tuesday that it is clearing the transaction unconditionally after the waiting period ended, Swisscom said.
The deal still needs approval from the Italian competition authority, which opened an in-depth probe earlier this month to assess whether it complies with the country's antitrust rules.
To date, the proposed acquisition has received unconditional approval from the Italian government and the Swiss competition regulator, Swisscom said.
The company expects the transaction to complete in the first quarter of 2025.
The all-cash deal, which was first outline in March, aims to bring together Vodafone Italia's mobile customer base with the fixed operations of Swisscom's Fastweb Italian subsidiary.
Write to Najat Kantouar at najat.kantouar@wsj.com
(END) Dow Jones Newswires
September 24, 2024 04:33 ET (08:33 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Morningstar’s Guide to Investing in Stocks
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst