Swisscom, a telecommunications provider majority-owned by the Swiss Confederation, has agreed to acquire Vodafone Italy for an enterprise value of €8 billion on a debt and cash free basis. Swisscom aims to merge Vodafone with its Italian subsidiary, Fastweb.
Swisscom offers mobile, internet and TV, and comprehensive IT and digital services to private and business customers. The transaction is a key step for Swisscom to achieve its strategic objective of profitable growth in Italy.
S&C advised Swisscom on the acquisition financing, consisting of an €8.1 billion unsecured facilities agreement underwritten by Deutsche Bank, ING Bank and UniCredit Bank.
The London-based S&C team advising Swisscom as financing counsel includes Craig Jones, Anna Delaud, Eleanor Chafer, as well as trainee solicitors Guilherme Cardoso and Anna McLaughlin.