23 August 2001
The gradual restructuring process to convert Swisscom into a group company, which began last year, is making rapid progress: as announced on 23 March 2001 Swisscom is integrating its Network Construction division into the newly established Cablex AG which will be headquartered in Berne. Swisscom´s Board of Directors has approved the separation into a fully-owned subsidiary as of 1 October 2001. The new subsidiary will trade under the name of Cablex. It will be responsible for the construction and maintenance of Swisscom´s fixed line network and will have around 700 employees throughout Switzerland. The network and network data will remain the sole property of Swisscom. Cablex AG will have annual in-house revenues of around CHF 220 million.
Berne, 23 August 2001