Companies / Switzerland
Swisscom Succeeds In Fastweb Bid
May 2007 | Company News AlertSwitzerland's incumbent fixed-line operator Swisscom has succeeded in its bid to take control of Italian broadband company Fastweb. The Swiss operator announced that it has acquired 80.7% of Fastweb shares for a total sum of EUR3.1bn, giving it a total shareholding of 82.4%. When taking into account Swisscom's assumption of Fastweb's net debt, the value of the deal rises to EUR4.2bn.
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