Vodafone Completes €8 Billion Sale of Italian Operations, Sparks Questions Over Ghana Deal

Vodafone Group has successfully concluded the sale of its Italian operations to Swisscom for €8 billion, marking a significant milestone in the company’s ongoing restructuring.

This deal, which was finalized at the end of December 2024, comes as part of a broader strategy to reshape Vodafone’s European portfolio.

The sale follows the completion of the company’s €5 billion transaction in May 2024, when it offloaded its Spanish unit to Zegona Communications.

The sale of Vodafone Italy to Swisscom allows the latter to expand its footprint in the Italian market, complementing its existing fixed-line provider, Fastweb.

The two companies plan to integrate their operations under the new entity, Fastweb + Vodafone, maintaining both the Fastweb and Vodafone brands in the market.

With a focus on driving synergies, Fastweb CEO Walter Renna predicted that the combined entity would generate up to €600 million in annual savings while also aiming to lead Italy into a more sustainable digital future.

The €8 billion from the sale will significantly help Vodafone reduce its debt, in line with the company’s efforts to streamline operations and refocus on high-growth markets.

For Swisscom, this acquisition is a vital step in expanding its services and improving competitiveness in Italy’s telecom sector, which has been in need of innovation and integration.

However, the transparency of Vodafone’s corporate decisions has come under scrutiny, particularly regarding its sale of operations in Ghana.

In contrast to the detailed public disclosure of the sale price in Italy and Spain, Vodafone has remained silent on the sale price for its Ghanaian operations, sold to Telecel in 2023.

Neither Vodafone nor the Ghanaian authorities have revealed any financial details, leaving many to question the opacity surrounding the transaction.

The lack of transparency and the absence of official scrutiny from the Ghanaian government have raised concerns about accountability in the sale of such significant national assets.

Critics argue that this lack of information highlights gaps in corporate governance and oversight of foreign business dealings in the country.

With Vodafone’s European assets sold, the unresolved issues surrounding its Ghana deal remain a point of contention for both local and international stakeholders.