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AP-National

Swisscom confirms talks to buy Vodafone’s Italian unit for 8B euros

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Published 2:12 AM

GENEVA (AP) — Telecoms operator Swisscom has confirmed it’s in talks with Vodafone Group toward a possible purchase of its Italian subsidiary for 8 billion euros ($8.65 billion). The Swiss company said in a statement Wednesday it’s in “advanced exclusive negotiations” to buy all of Vodafone Italia and merge it with Swisscom’s Italian subsidiary, Fastweb. Swisscom is majority owned by the Swiss government. The Swiss telecoms operator says the deal would bring lower costs and pave the way for synergies, and comply with aims of the Swiss executive branch, the Federal Council.

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