Deals & Cases

Deutsche Bank, ING Bank, and UniCredit provide EUR 8.1bn acquisition financing to Swisscom

29 aprile 2024 – Walder Wyss advised Deutsche Bank, ING Bank, and UniCredit in their role as joint underwriters and bookrunners of the financing of the acquisition of 100% of Vodafone Italy by Swisscom AG (“Swisscom”) from the Vodafone Group (“Vodafone”) for an enterprise value of EUR 8bn. The cash consideration will be fully debt-financed. The transaction is subject to approval by Vodafone′s shareholders and regulatory bodies, including the Italian Competition Authority, with completion expected in the first quarter of 2025. Walder Wyss’ advise related to all matters of Swiss law.

Swisscom is the leading Information and Communications Technology (ICT) company in Switzerland and, with Fastweb, a leading challenger in Italy. The company offers mobile, internet and TV, as well as comprehensive IT and digital services to private and business customers. Swisscom is listed on the Swiss Stock Exchange and is 51% owned by the Swiss Confederation.

Vodafone is the largest pan-European and African telecoms company. The company provides mobile and fixed services to over 300 million customers in 17 countries and has one of the world’s largest IoT platforms.

The Walder Wyss team that advised on this transaction included Lukas Wyss (Partner, Banking Finance), Thiemo Sturny (Partner, Corporate M&A) and Maurus Winzap (Partner, Tax).