Takeover of Vodafone Italia

In March 2024, Swisscom signed a sales agreement with Vodafone Group Plc regarding the takeover of 100% of Vodafone Italia for a purchase price of EUR 8.0 bil­lion (cash and debt-free). The transaction was completed after all the regulatory approvals were received on 31 December 2024. Vodafone Italia will be merged with the Swisscom subsidiary Fastweb at a later date. 100% of the purchase price was covered by cash and financed using debt capital in full. The merger of Vodafone Italia and Fastweb is intended to combine complementary, high-quality mobile com­mu­ni­ca­tions and fixed tele­phone network in­fra­struc­tures with expertise and practical knowl­edge, and establish a leading convergent provider on the Italian market with Fastweb + Vodafone. Thanks to economies of scale, a more efficient cost structure and the anticipated high synergies of around EUR 600 million per year, the merged company is expected to generate considerable added value for all stake­hold­ers through sustainable in­vest­ments in the Italian telecom­mu­ni­ca­tions market, innovative, convergent services at com­pet­i­tive prices, as well as improved services and customer experiences in all market segments. For Swisscom, the takeover of Vodafone Italia is a significant step towards realising its strategic goal of achieving profitable growth in Italy. Swisscom intends to increase the dividend and expects to maintain its excellent corporate rating.

In 2024, Vodafone Italia recorded estimated revenue of EUR 4.6 bil­lion and an EBITDA of EUR 2.0 bil­lion. Capital ex­pen­di­ture came to EUR 0.8 bil­lion and headcount was at around 4,000 employees at the end of 2024.