Deals
Swisscom Nears €8 Billion Deal for Vodafone’s Italian Unit
- Swisscom is in advanced, exclusive talks to buy the unit
- Vodafone favors bid over rivals because of cash component
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Swisscom AG is in advanced talks to buy Vodafone Group Plc’s Italian business for €8 billion ($8.7 billion) on a cash and debt-free basis after fending off competition from rivals including French billionaire Xavier Niel.
The exclusive discussions to merge Vodafone Italia and Swisscom’s Fastweb SpA business would create a more efficient company, Swisscom said in a statement on Wednesday, confirming an earlier Bloomberg News report. The agreement isn’t final and there’s no certainty a deal will go through, the company said.