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Swisscom and Vodafone Agree Preliminary Price For Vodafone Italy Sale

COMMUNICATIONS


  • Swisscom plans to buy Vodafone Italia for EUR 8bn, aiming to merge it with Fastweb
  • Valuation implies a 26x FY24 forecasted OpFCF and 7.6x FY24 forecasted adjusted EBITDA.
  • The preliminary purchase price has been agreed though not finalised; Vodafone is now in exclusive talks with Swisscom
  • Swisscom expect the acquisition to be cash flow positive and maintain their A credit rating.

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