Swisscom Completes Acquisition of Vodafone Italia
Swisscom, a Swiss telecoms group, has announced that it has completed its acquisition of Vodafone Italia. The company will now begin merging Vodafone Italia with its Italian business, Fastweb.
According to Swisscom, the acquisition will result in costs of up to 200 million euros, which will be recognized in the company’s 2024 financial results. As a result, the company has revised its full-year earnings outlook. Swisscom now expects earnings before interest, taxes, depreciation, and amortization (EBITDA) of 4.3-4.4 billion Swiss francs for 2024, down from its previously guided range of 4.5-4.6 billion francs. However, the company’s guidance for revenue, capital expenditure, and dividend remains unchanged.
The acquisition was approved by the Italian authorities earlier this month, and the deal was completed on December 31. Swisscom CEO Christoph Aeschlimann stated that he was thrilled with the successful closing of the deal, which he said strengthened the group’s position.
Despite the changes, Swisscom’s focus on the Swiss market remains unchanged, according to Aeschlimann. The company will provide further details on the integration costs with the presentation of its full-year results.