Swisscom still needs 3 approvals for Vodafone Italia deal
Published: Thursday, Oct 31st 2024, 11:30
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Swisscom still needs three approvals from the authorities for its giant takeover of Vodafone Italia. In addition to the Italian competition authority AGCM, the Ministry of Enterprise and Made in Italy (MIMIT) and the Italian Communications Authority (AGCOM) must also give their approval.
In addition to competition issues, this involves approvals for the transfer of mobile licenses and TV services, said Swisscom CEO Christoph Aeschlimann in an interview with the news agency AWP on Thursday. The most important approval is that of the Italian competition authority AGCM, which recently initiated an in-depth review (Phase II) of the EUR 8 billion takeover.
A Phase II trial in Italy normally takes 90 to 120 days. Aeschlimann said that a decision should be made by AGCM in the first quarter of 2025 at the latest. This means that the takeover of Vodafone Italia is on track. The Swisscom CEO continues to expect the transaction to be completed in the first quarter of next year. Aeschlimann did not wish to comment on whether he expects conditions to be imposed by the Italian competition authorities.
Electricity sales in Italy booming
Aeschlimann was satisfied with business in Italy to date. The electricity business, which was only launched this year, is going very well. "We have gained almost 50,000 customers." The electricity offer has met with great interest. The Italian subsidiary Fastweb now also sells bundled offers consisting of telecom subscriptions and electricity to private customers and small companies.
However, Swisscom is "definitely not" planning to get involved in electricity production or trading, said Aeschlimann: "We are purely a reseller of electricity. We don't want to take any risks in trading or producing electricity."
Over 1000 building permits still required
In Switzerland, Swisscom is still struggling with the consequences of various federal court rulings that require subsequent planning applications to upgrade cell phone antennas to 5G: "We still have to submit over 1,000 planning applications."
The decisions of the Federal Supreme Court would have major consequences for the authorities: Cantons and municipalities would be inundated with planning applications. In the end, the permits would be granted after all, said Aeschlimann. However, the flood of planning applications could lead to delays in the expansion of 5G.
There was no news on the fiber optic dispute with the Swiss Federal Competition Commission (Weko). The appeal proceedings before the Federal Administrative Court are still ongoing. This is likely to take another two to three years, said Aeschlimann.
Of the less than 400,000 fiber optic connections blocked by the Weko veto, around a quarter are being converted. The Swisscom CEO intends to provide new figures on how many connections have been converted when he presents the annual figures for 2024.
According to Aeschlimann, the intensity of competition in the Swiss business continues to be strongly driven by promotions. The competitive situation has not changed. "I don't expect a turnaround in the near future either," he said.
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