Swisscom has officially concluded its acquisition of Vodafone Italia following the receipt of all necessary regulatory approvals. This merger brings together Fastweb, which Swisscom already owns, and Vodafone Italia, creating a formidable player in the Italian telecom market.
This acquisition marks a key milestone in Swisscom’s growth strategy in Italy. Fastweb’s established presence in fixed infrastructure complements Vodafone Italia’s mobile services, enabling the newly formed entity to provide innovative, competitively priced, and integrated offerings to both consumers and businesses in Italy. The deal also promises to generate significant value for all stakeholders, with synergies projected to reach EUR 600 million annually.
By merging Fastweb’s strengths in fixed connectivity with Vodafone Italia’s mobile leadership, the acquisition positions Swisscom to better serve the Italian market with a comprehensive range of converged services.
Acquisition Timeline:
- Vodafone in Exclusive Talks with Swisscom to Sell Italian Unit
- Vodafone Group to Sell Italian Business to Swisscom
- Swisscom Confirms EUR 8 Billion Vodafone Italy Acquisition Remains on Track
- Swisscom Faces Phase II Probe into Vodafone Italy Deal
- EU Clears Swisscom’s EUR 8 Billion Bid for Vodafone Italy
- AGCOM Greenlights Swisscom’s Acquisition of Vodafone Italia
- Italian Authorities Approve Swisscom’s Vodafone Italia Transaction
- Vodafone Sells Italian Unit to Swisscom
A New Chapter for Italian Telecommunications
Walter Renna, CEO of Fastweb-Vodafone, noted, “We are entering a new era in Italian telecommunications. By combining our strengths, we’re creating a more powerful, innovative organization that will lead Italy toward a sustainable digital future, benefiting individuals, businesses, and public administrations alike.”
Christoph Aeschlimann, Swisscom CEO, added, “We are excited about the successful closure of this acquisition, which strengthens the Swisscom Group. Our enhanced position in Italy will provide long-term value to all stakeholders, driving growing cashflows and dividends in the future. At the same time, we remain fully committed to the Swiss market, with continued investment in innovation, premium services, and next-generation infrastructure.”
Also Read: Eight-Strong Consortium to Advance EU Cloud and Edge Technologies
Strategic Integration Underway
The integration of Fastweb and Vodafone Italia is underway, with a newly appointed Executive Committee overseeing the combined company. The entity will operate under the Fastweb-Vodafone brand, though the existing commercial brands, including Fastweb, Vodafone, and ho., will remain in use.
The leadership team comprises experienced executives from both companies, including Walter Renna as CEO, Anita Carra as Chief Brand & B2C Marketing Officer, and Fabrizio Casati as Chief Wholesale Officer. Other key members of the team include Silvia Cassano (Chief Human Resources Officer), Elenia Cerchi (Chief Regulatory and Antitrust Officer), and Peter Grüter (Chief Financial Officer). The company will soon announce the appointments of the new Chief IT Officer and Chief Technology Officer, with interim leadership in place for these roles.
Updated Financial Outlook (2024)
Due to the acquisition’s early closing, Swisscom revised its EBITDA guidance for 2024. The company expects costs of up to EUR 200 million to be recognized in its financial statements for the year, primarily related to the exit of existing MVNO and mobile network-sharing agreements and the migration of Fastweb mobile customers to the Vodafone Italia network. Despite this adjustment, Swisscom confirmed that the revised guidance would not affect 2024’s free cash flow.
The updated 2024 EBITDA forecast as of 2024 is CHF 4.3-4.4 billion, down from the original estimate of CHF 4.5-4.6 billion. However, Swisscom’s revenue, CapEx, and dividend guidance remain unchanged.
With this acquisition now finalized, Swisscom is well positioned to strengthen its presence in the Italian telecom market while continuing to prioritize its operations and investments in Switzerland.
