An indiscretion has been circulating for a few weeks according to which Fastweb SpA, an Italian company owned by the Swiss giant Swisscom, is “exploring” a potential deal to acquire Vodafone’s Italian assets which, we recall, last year had rejected an offer of 11.25 billion euros made by a consortium supported by Iliad and Apax Partners, stating that “was not in the best interests of shareholders.”
FASTWEB INTERESTED IN THE VODAFONE NETWORK
These transfer rumors, initially reported a couple of weeks ago by Bloomberg citing market sources who had asked to remain anonymous, they were also taken up in these hours by DDay according to which in these indiscretions there would be “more than a kernel of truth”.
The potential agreement between Fastweb and Vodafone Italia, in fact, according to what was reported by the Italian newspaper which cites its anonymous sources, it would already be at an advanced stage. Fastweb would have even already signed an NDA (Non-disclosure agreement) to be able to access all confidential Vodafone Italia documentation in order to prepare and finalize the offer.
CONSUMER CUSTOMERS RESOLD TO ILIAD
Fastweb’s interest would be to become an integrated operator on landline and mobile, and therefore mainly linked to the entire infrastructure of Vodafone Italia, one of the most important in our country, not so much to consumer customers who could be resold to Iliad. According to what was reported in the latest half-yearly results, Vodafone currently has 17,463,000 mobile customers in Italy (down 2.19% from Q2 2023 and 1.19% from Q1 2024).
The Italian telecommunications market, one of the most competitive, is going through a period of significant changes. In recent days, TIM’s Board of Directors agreed to sell its fixed telephony business to the investment company KKR for 22 billion euros. The completion of the transaction is expected by the summer of 2024.
In early November, Vodafone Italia CEO Margherita Della Valle told investors at the outset that however, he was “evaluating” various options for the Italian branch given the disappointing results. The growing debt and poor performance metrics, in fact, are raising concerns among investors.