Deals

Vodafone Wraps Overhaul With €8 Billion Italy Deal, Buyback

Vodafone also announced plans for a €4 billion share buyback
Sale to Swisscom will create a new market dynamic in Italy

A Vodafone store in Milan.
Photographer: Francesca Volpi/Bloomberg

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By Daniele Lepido and Paula Doenecke

March 15, 2024 at 6:29 AM UTC

Updated on

March 15, 2024 at 2:20 PM UTC

This article is for subscribers only.

Vodafone Group Plc struck an €8 billion ($8.7 billion) deal to sell its Italian business to Swisscom AG, bringing to a close a years-long divestment effort and setting the stage for a shake-up of the fiercely competitive Italian market.

Swisscom will merge Vodafone Italia with its Fastweb SpA subsidiary, and the deal is expected to close in the first quarter of 2025, the companies said in a statement Friday, confirming an earlier Bloomberg report.