Conditions of the Federal Council for Vodafone takeover fulfilled
Published: Friday, Mar 15th 2024, 09:20
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The Federal Council has "taken note" of the takeover of Vodafone Italia by Swisscom. The company, of which the Confederation is the majority shareholder, has fulfilled all "risk-minimizing conditions".
The Federal Council was informed of the purchase intention "at an early stage", the Federal Council announced on Friday. The takeover does not stand in the way of its strategic objectives.
One of the Federal Council's most important expectations is that the Italian and Swiss businesses remain organizationally and structurally separate. Swisscom would still not be allowed to take on any universal service contracts abroad, it said.
For Swisscom, the takeover represents a "consolidation" of its Italian subsidiary Fastweb, which it intends to merge with Vodafone Italia. The decision on the transaction lies within the competence and responsibility of the Swisscom Board of Directors.
Irrespective of this, the Federal Council intends to clarify questions regarding privatization or partial privatization in the course of this year. This is provided for in the federal government's corporate governance guidelines.
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