Swiss Competition Commission approves the contemplated acquisition of Fastweb by Swisscom
Berne, 12 April 2007
The Swiss Competition Commission (the National Swiss Authority on Competition) has no objection to the contemplated acquisition of Fastweb through the voluntary public cash tender offer launched by Swisscom.
After a preliminary review the Swiss Competition Commission informed Swisscom that it had no objection to the planned acquisition of the control of the Fastweb S.p.A., an Italian company, by Swisscom through a tender offer on 78,128,095 outstanding shares of the company. Since the acquisition would not create or strengthen a dominant market position the Competition Commission had no reason for an in-depth investigation of a concentration of enterprises in accordance with the Swiss Cartel Act. Therefore, a further condition of the offer has been fulfilled.