Swisscom said on Thursday that it has completed its acquisition of competitor Vodafone Italia, which it will now begin merging with its Italian business Fastweb.
Swisscom took a step forward in its plan to combine its Italian arm Fastweb with Vodafone's local assets as the country's antitrust body found its proposed competition remedies acceptable, three sources with knowledge of the matter said.
Swisscom offered a second set of remedies to Italy's antitrust authority at the end of October to win approval for a planned deal to combine its Italian arm Fastweb with Vodafone assets in the country, a letter seen by Reuters showed.
Swisscom AG (OTCPK:SCMWY) Q3 2024 Results Conference Call October 31, 2024 4:00 AM ET Company Participants Louis Schmid - Head of Investor Relations Christoph Aeschlimann - Chief Executive Officer Eugen Stermetz - Chief Financial Officer Conference Call Participants Joshua Mills - BNP Paribas Maurice Patrick - Barclays Titus Krahn - Bank of America Andrew Lee - Goldman Sachs Nuno Vaz - Bernstein Usman Ghazi - Berenberg Dhruva Shah - UBS Operator Good morning, and thank you for joining the Swisscom Q3 2024 Results Conference Call, hosted by Christoph Aeschlimann, Eugen Stermetz and Louis Schmid. Louis, the floor is yours.
Swisscom's CAPEX burden is relatively limited, with substantial progress in FTTH and 5G+ coverage, reducing future investment needs compared to peers. The Italian segment, Fastweb, shows promising organic performance and ARPU lift opportunities from the liberalized energy market, despite competitive pressures. Swisscom faces intense competition, limiting the benefits of its infrastructure investments and leading to disappointing cost savings in Switzerland.
The European Commission has approved an acquisition of Vodafone Italia by Swisscom under the foreign subsidies regulation, the Swiss telecoms company said on Tuesday.
Italy's competition watchdog said on Monday a planned tie-up between Swisscom's and Vodafone's Italian units could pose a threat to competition in the country's fixed-line connectivity services.
Nokia has partnered up with Swisscom to deploy a drones network across Switzerland to improve emergency responses and infrastructure inspection, they said in a joint statement on Thursday.
Swisscom AG (OTCPK:SCMWY) Q2 2024 Earnings Conference Call July 31, 2024 3:00 AM ET Company Participants Louis Schmid - Head, Investor Relations Christoph Aeschlimann - Chief Executive Officer Eugen Stermetz - Chief Financial Officer Conference Call Participants Polo Tang - UBS Steve Malcolm - Redburn Atlantic Ajay Soni - JPMorgan Luigi Minerva - HSBC Joshua Mills - BNP Paribas Usman Ghazi - Berenberg Nuno Vaz - Bernstein Robert Grindle - Deutsche Bank Operator Good morning, ladies and gentlemen. Thank you for joining the Swisscom Q2 2024 Results Conference Call, hosted by Christoph Aeschlimann, Eugen Stermetz and Louis Schmid.
Swisscom, Telefonica and Telenor have been highlighted in this Industry Outlook article.
The accelerated pace of 5G deployment and demand for scalable infrastructure should help the Zacks Diversified Communication Services industry thrive despite geopolitical headwinds. SCMWY, TEF and TELNY are well-positioned to make the most of the infrastructure upgrade for seamless connectivity.