Swisscom submits non-binding offer to PubliGroupe to fully acquire local.ch

Swisscom has submitted a non-binding offer to PubliGroupe Ltd to purchase its shares in LTV Yellow Pages Ltd and Swisscom Directories Ltd. Swisscom owns the remainder of the shares in the two companies. Swisscom’s offer price, excluding the planned dividend payments, is CHF 230 million for financial year 2013. Swisscom’s aim with the deal is to assume full control of local.ch while further developing its strategic directories business in the existing market environment and streamlining the company structure. Plans envisage continuing the employment of the 800-strong workforce. In light of the prior announcement by Tamedia Ltd of its intention to submit a public takeover bid for PubliGroupe Ltd, any deal to purchase the shares will require the consent of an Extraordinary General Meeting of Shareholders of PubliGroupe Ltd, the conclusion of a binding purchase agreement and the approval of ComCo.