Swisscom said on Thursday that it has completed its acquisition of competitor Vodafone Italia, which it will now begin merging with its Italian business Fastweb.

Vodafone completes £6.6bn deal to offload Italian arm - The mobile phone giant last month saw its £15 billion mega-merger with Three UK given the green light by Britain’s competition regulator.

British telecommunications giant Vodafone on Thursday said it has completed the sale of its Italian operations to Swiss telecom firm Swisscom for €8 billion ($8.3 billion). The proceeds from the sale will be used to reduce Vodafone Group net debt and the Board will target to return up to €2 billion to shareholders,