The Commission approved the acquisition under the Foreign Subsidies Regulation, enabling the transaction to close unconditionally.
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“The approval is another important step on the way to securing the regulatory approvals needed to finalise the transaction,” Swisscom said in a statement.
The proposed merger, first announced in March, would see Vodafone Italy combine with Swisscom’s Fastweb brand.
In addition to approval from the European Commission, the transaction has been greenlit by both the Presidency of the Council of Ministers in Italy and the Swiss Competition Commission.
However, Italian competition authorities are conducting a more thorough review of the deal, as they announced last week that they had initiated a Phase II review, which occurs when a prospective merger could raise significant competition concerns.
Swisscom remains unfazed by the investigation, however, with the company expecting the deal to go ahead as planned with completion expected sometime in the first quarter of 2025.
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