Swisscom is currently considering the possibility of selling a large amount of property belonging to Swisscom Immobilien Invest AG. In addition, the costs involved in managing the company"s property should be further reduced through optimisation measures.
Property is not one of Swisscom´s core businesses. The reduction of jobs and the space required per workstation, as well as the introduction of new technologies, have led to a continually declining need for space within the Swisscom Group.
On January 1, 1998, Swisscom assigned its property to two wholly-owned limited companies. Swisscom Immobilien AG currently owns approximately 1,800 buildings in Switzerland. In addition, Swisscom Immobilien Invest AG owns about 160 properties that due to their infrastructure or location are suitable for external marketing, for example as properties for rent or sale.
Current market conditions are considered favourable and should allow the transaction to be completed in the second half of the year 2000.