Swisscom offers new proposals to win Italy's approval for Vodafone deal [Yahoo! Finance]
SWISSCOM AG S/ADR (SCMWY)
NASDAQ:AMEX Investor Relations:
swisscom.ch/en/about/investors.html
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Source: Yahoo! Finance
approval for a planned deal to combine its Italian arm Fastweb with Vodafone assets in the country, a letter seen by Reuters showed. The Italian antitrust authority (AGCM), whose approval is required to complete the deal, opened in September an in-depth review of Swisscom's 8 billion euro buyout of Vodafone Italia, which would be merged with Fastweb. AGCM said at the time the merger could restrict competition as it would create a dominant player in Italy's fixed-line wholesale service market, as well as in retail services for residential, public administration and corporate customers. Swisscom submitted the fresh set of remedies to factor in some remarks the Italian authority had made during a hearing held on Oct. 25 following a first round of proposals, according to the letter. Competitors were required to provide their feedback on the proposed remedies by Nov. 4, with Italy's antitrust now assessing the new package, according to two people briefed on the matter on Tuesday.
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