Swisscom AG on Friday said it received clearance for the acquisition of Vodafone Italia.
The Ittigen, Switzerland-based telecommunications provider said it received clearance from both the Italian Competition Authority and the Ministry of Enterprises & Made in Italy.
‘This paves the way to the creation of a leading converged challenger in Italy, as all competent authorities approved the transaction,’ Swisscom said.
It expects the acquisition to complete by the first quarter of 2025.
The €8 billion deal to buy Vodafone Italia was announced back in March.
Swisscom shares had closed 0.6% lower at fr.498.40 each on Friday in Zurich, while Vodafone Group PLC shares had closed 0.9% lower at 66.44 pence each in London.
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