(Reuters) – Swisscom (SIX:) said Thursday it has completed the acquisition of rival Vodafone (NASDAQ:) Italia, which it will now merge with its Italian company Fastweb.
The Swiss telecom group said costs of up to 200 million euros ($207.20 million) would be included in its 2024 financial results as a result of the shutdown this year and its full-year profit outlook would be revised downwards.
The company now expects earnings before interest, taxes, depreciation and amortization (EBITDA) of 4.3 to 4.4 billion Swiss francs for 2024, down from the previously forecast 4.5 to 4.6 billion francs, excluding consequences for free cash flow.
Guidance for revenue, CAPEX and dividend remains unchanged, the company added, which said it will provide further details on integration costs when presenting its annual results.
Swisscom said the closing of the 8 billion euro deal took place on December 31, after it was approved by Italian authorities earlier that month.
“I am pleased with the successful closure as it strengthens 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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