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Press release

Swisscom files with CONSOB the offer document related to the tender offer on Fastweb

Berne, 20 March 2007

On 12 March 2007, Swisscom announced its intention to acquire the Italian company Fastweb. Today, Swisscom has filed the offer document to CONSOB (Italian authority responsible for regulating the Italian securities market) for its approval. Swisscom expects the offer period will start in the first half of April and will end in mid-May.

The bid price is equal to EUR 47 a share and assumes that any dividend, which could be decided upon by Fastweb's General Meeting on 22/23 March, will only be paid out after the closing of the tender offer.

The bid is intended for 100% of shares. Swisscom already owns 1.74% of Fastweb's shares. The maximum price payable is therefore equal to EUR 3.7 billion and is being financed by bank loans from a consortium of top-ranking international banks, which entered into a facility agreement to finance the offer.

As a strategic partner with a long-term focus, Swisscom is investing in Fastweb with the clear objective of building on the company's present competitive edge and technological dominance and of extending the company's product range. All Swisscom and Fastweb shareholders, customers and staff will benefit from the planned acquisition.


Swisscom AG
Media Relations
3050 Bern