The European Commission (EC) has approved Swisscom's proposed acquisition of Vodafone in Italy.

Approval from the EU follows that of the Italian government, which gave its blessing to the €8 billion ($8.92bn) deal in May.

Vodafone Italy HQ
– Getty Images

It means that the deal just needs to get the green light from Italy's Competition Authority (Autorità Garante della Concorrenza e del Mercato).

The regulator opened its investigation into the proposed merger earlier this month.

Swisscom said it expects the acquisition to be completed in the first quarter of 2025.

Vodafone confirmed on March 15, that it had agreed to sell its Italian unit to Swisscom, in a deal that will see Swisscom merge Vodafone with its Italian subsidiary Fastweb.

Swisscom said the deal will be debt-financed and paid for in cash.

The merger will combine 3.4 million Fastweb customers with Vodafone's 20 million, making it the second-biggest telco in Italy behind struggling Telecom Italia (TIM).

Xavier Niel's Iliad was previously interested in a deal, but Vodafone rejected Iliad Group's proposal.

Vodafone has looked to slim down its operations in the last couple of years, notably exiting the Spanish market earlier this year through a €5bn ($5.58bn) sale to UK investment firm Zegona.