Swisscom Acquires Vodafone's Italy Business for 8 Billion Euros

Swiss telecommunication company, Swisscom, has acquired Vodafone's Italy business for 8 billion euros and will merge it with its own Fastweb. The acquisition will be funded entirely with debt. Vodafone chose Swisscom over a competing offer from French billionaire Xavier Niel due to the larger cash component. This acquisition marks a significant move in the telecommunication industry, consolidating the market and expanding Swisscom's presence in Italy.