Swisscom says Italian regulator probing Vodafone Italia acquisition
Sept 12 (Reuters) -Italy's competition authority has opened an in-depth investigation to assess the acquisition of Vodafone Italia by Swisscom SCMN.S under Italian merger control rules, the Swiss telecoms company said on Thursday.
Swisscom said such Phase II reviews "are not uncommon in the telecommunications sector" and that the company "remains convinced that the transaction is pro-competitive".
"We will continue to work closely and constructively with the Italian Competition Authority to secure a timely clearance," Swisscom added in a statement.
Following the announcement of the acquisition of Vodafone Italia on March 15, Swisscom secured financing for the purchase price of 8 billion euros ($8.82 billion) in May 2024 and expects the transaction to be completed in the first quarter of next year, according to the statement.
($1 = 0.9074 euros)
Reporting by Mateusz Dobrzyniewski, editing by Rachel More
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