(Reuters) – Swisscom (SIX:) said on Thursday it has completed its acquisition of rival Vodafone (NASDAQ:) Italia, which it will now begin integrating with its Italian business Fastweb.
The Swiss telecommunications group said costs of up to 200 million euros ($207.20 million) would be recognized in its 2024 financial results due to the closure this year and revised its full-year profit forecasts downward.
The company now expects earnings before interest, taxes, depreciation and amortization (EBITDA) of CHF4.3-4.4 billion for 2024, down from CHF4.5-4.6 billion previously guided, with no impact on free cash flow.
The company added that guidance for revenue, capital expenditures and dividends remained unchanged, and said it would provide more details on integration costs as it presents full-year results.
Swisscom said the €8 billion deal closed on December 31 after it was approved by Italian authorities earlier that month.
“I am thrilled about the successful closing, as it strengthens the Swisscom Group. At the same time, the focus on the Swiss market remains unchanged,” Christoph Aeschlimann, CEO of Swisscom, said in a statement.
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