Brussels clears Swisscom's takeover of Vodafone Italia [Yahoo! Finance]
SWISSCOM AG S/ADR (SCMWY)
NASDAQ:AMEX Investor Relations:
swisscom.ch/en/about/investors.html
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Source: Yahoo! Finance
The deal is still subject to other regulatory approvals, including that of the Italian Competition Authority, which announced on September 11 the opening of an in-depth Phase II investigation to assess the acquisition under Italy's merger control rules. Swisscom said the completion of the Vodafone Italia transaction is on track, and expects to complete in the first quarter of 2025, as announced earlier. It was in March that Swisscom agreed to acquire Vodafone Italy for an enterprise value of €8 billion ($8.9 billion). Following this, Swisscom in mid-August notified the deal to the European Commission's Directorate-General for Competition, under the Foreign Subsidies Regulation. On Monday, the commission confirmed that the waiting period has elapsed, thus clearing the transaction unconditionally. Swisscom said it has secured the financing for the purchase price of €8 billion in May 2024, and has received unconditional approval from both the presidency of the Council of Minis
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