Vodafone sells Italian business for €8 billion
Posted by:
Emma Walker
Vodafone Italy, a prominent telecommunications company, has been acquired by Swisscom AG in a deal worth €8 billion. As a result of this acquisition, Vodafone will no longer operate networks in Italy and Spain, shifting its focus towards growth in the UK. Swisscom, known for its operations in Switzerland and ownership of Fastweb in Italy, is set to benefit from this acquisition as it expands its market presence. The sale of Vodafone Italy follows a previous deal involving the sale of its Spanish business, indicating a strategic shift in the company’s operations towards markets with sustainable structures. Additionally, Vodafone has recently received approval for a merger with Three in the UK, signaling significant investments in 5G infrastructure. The company’s CEO emphasized how these developments will drive the UK’s telecommunications industry forward. Swisscom’s CEO expressed confidence that the acquisition of Vodafone Italy will generate long-term value for all stakeholders.
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