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Press release

Success in Hungary: Swisscom Broadcast Ltd acquires Antenna Hungária Rt

21 July 2005

According to the steering committee for the sale of the 75 percent stake (plus one share) in Antenna Hungária's equity held by the Hungarian government, Swisscom Broadcast Ltd submitted the most attractive bid at HUF 5,250 per share, making the price tag on the share package around CHF 286 million. The transaction still requires the approval of the Hungarian, European and Swiss competition authorities.

Once Swisscom Broadcast has completed the acquisition of 75 percent (plus one share) of Antenna Hungária, it will be obliged under Hungarian capital market regulations to make a public offer at the same price to Antenna Hungária's public shareholders. The leading Swiss broadcasting company will make this offer in accordance with the requirements of Hungarian capital market legislation subject to the consent of the Hungarian, European and Swiss competition authorities. Swisscom Broadcast set the price for Antenna Hungária following a comprehensive due diligence. The acquisition of a 75 percent stake (plus one share) in Antenna Hungária will give Swisscom Broadcast operational and strategic control of the company. The takeover is expected to be completed in the fourth quarter of 2005 and will reduce Swisscom's equity free cash flow (EFCF) in 2005 by the amount of the acquisition price.

Antenna Hungária Rt is currently well positioned in the analogue radio and television broadcasting business and is therefore well placed to play a leading role in the migration to digital broadcasting in Hungary. In 2004, Antenna Hungária generated revenues of around CHF 162 million and earnings before interest and tax (EBIT) of CHF 6.2 million with a workforce of around 970 staff. Swisscom Broadcast will contribute its broad know-how to the company as soon as the purchase is completed. There are plans to introduce digital television (DVB-T) across the whole of Hungary in the next few years. The digitalisation of the broadcasting business presents Swisscom Broadcast with the chance to pursue growth opportunities outside Switzerland.

Swisscom Broadcast Ltd (, with around 240 employees, approximately 500 transmitter sites and over 1,800 transmitter stations, ensures that radio and television signals are transmitted to every corner of Switzerland. The wholly owned subsidiary of the leading Swiss telecommunications provider aims to grow through innovations in its local core business and targeted acquisitions abroad. The company intends to generate sustainable value for the Swisscom Group through its activities abroad. In 2004, the leading transmission infrastructure operator generated revenue of CHF 162 million.


Swisscom AG
Media Relations
3050 Bern