Swisscom to buy Vodafone Italia in 8-bln-euro deal [Reuters]
SWISSCOM AG S/ADR (SCMWY)
NASDAQ:AMEX Investor Relations:
swisscom.ch/en/about/investors.html
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Source: Reuters
The deal will create Italy's second-biggest fixed-line broadband operator behind TIM (TLIT.MI) , opens new tab , with a strong presence in the prized business segment, and a leading player in mobile. The transaction consideration will be 100% cash and will be fully debt-financed, Swisscom said. "Vodafone Italia and Fastweb will bring together complementary high-quality mobile and fixed infrastructures, competencies, and capabilities to create a leading converged challenger in a market with material growth opportunities," Swisscom said in a statement. The deal is expected to be closed in the first quarter of 2025, and will not require a shareholder vote, the company added. ($1 = 0.9194 euros) Get U.S. personal finance tips and insight straight to your inbox with the Reuters On the Money newsletter. Sign up here. Reporting by John Revill, editing by Linda Pasquini Our Standards: The Thomson Reuters Trust Principles. , opens new tab
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