Berne, 05 April 2007
On March 20th 2007, Swisscom filed the offer document related to the tender offer for Fastweb shares with Consob (the Italian authority responsible for regulating the Italian securities market) for its approval. Today, Consob approved the offer document. The offer period will begin on April 10th and will end on May 15th, 2007 (included). The offer price is equal to EUR 47 a share.
Subject to the terms of the offer described in the offer document, Swisscom will pay to each shareholder tendering its Fastweb shares an amount of EUR 47 per share. Fastweb's board of directors has ruled in favour ("espresso parere favorevole") of the tender offer to be launched by Swisscom, after taking into account the fairness opinions provided by its financial advisors.
The maximum consideration payable is equal to EUR 3.7 billion and is being financed through loans from a consortium of leading 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. Swisscom believes that all Swisscom and Fastweb shareholders, customers and staff will benefit from the planned acquisition.