30 April 2004
In the Permira Funds, Swisscom has found an investor who will continue to develop debitel's business in line with the current 'Enhanced Service Provider' strategy. Swisscom is granting the buyer a vendor loan note of EUR 210 million for the purchase. After deduction of this loan, Swisscom will receive EUR 430 million in 2004 from the sale of its investment in debitel. The parties have agreed not to disclose any additional details regarding the transaction.
The takeover is subject to approval from antitrust authorities. The transaction is expected to be completed by the end of June 2004.
Berne, 30 April 2004