(Bloomberg) -- Swisscom AG’s Italian unit agreed to sell its stake in Telecom Italia SpA’s fiber company to private equity firm KKR & Co., which is expanding its holdings in the country’s telecommunications network. Most Read from BloombergModi Vows to Retain Power Even as Party Loses India MajorityBlackRock, Citadel Back Texas Stock Exchange in Challenge to NYSEModi’s Magic Is Fading Fast. Who’s Next for India?Short Sellers in Danger of Extinction After Crushing Stock GainsIndian Stocks Lead Ga
Swisscom has secured an initial go-ahead from Italy's government for its planned acquisition of Vodafone Italia, the Swiss telecoms company and a source close to the matter said on Tuesday. So-called "golden power" legislation allows Rome to block or impose conditions on deals in sectors considered strategic such as banking, energy, telecommunications or healthcare. Swisscom said in a statement that it had been informed by Prime Minister Giorgia Meloni's government of its decision not to use golden powers to veto the transaction.
Swisscom selects Ericsson's (ERIC) comprehensive solution suite to modernize its mobile network infrastructure.