(Reuters) – Swisscom (SIXSI:) said on Thursday that it has completed the acquisition of rival Vodafone (NASDAQ:) Italia, and will now begin a merger with its Italian business Fastweb.
The Swiss telecoms group said costs of up to 200 million euros ($207.20 million) would be reflected in its 2024 financial results due to the shutdown this year and revised its full-year profit outlook.
The company now expects earnings before interest, taxes, depreciation and amortization (EBITDA) of 4.3 to 4.4 billion Swiss francs in 2024, down from 4.5-4.6 billion francs previously guided, without the impact on cash flow free.
The guidance for revenue, CAPEX and dividend remains unchanged, added the company, which said it will provide more details on the costs of the merger and the presentation of its full-year results.
Swisscom said the closing of the 8-billion euro deal took place on Dec. 31 after it was approved by Italian authorities earlier that month.
“I am pleased with the successful closing, as it strengthens the Swisscom Group,” Swisscom CEO Christoph Aeschlimann said in a statement, “At the same time, the focus on the Swiss market remains unchanged,” he added.
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