Berna, 29 August 2014
The released final result is definitive: Swisscom now owns 98.37% of all PubliGroupe shares. All conditions of the bid (see point 2.7 in the offer prospectus) have been met, provided they included no obligations to desist that are valid until such time as the takeover has been completed. The Competition Commission confirmed that it considers the takeover of PubliGroupe Ltd by Swisscom to be unobjectionable. The merger can now be completed without restrictions. The offer price will be paid by Swisscom on 5 September 2014, the same day as the shares will be transferred. Due to the ratio of more than 98%, Swisscom will request that all shares not tendered be cancelled so as to ensure it then owns all PubliGroupe shares. All remaining minority shareholders will receive CHF 214 per share in compensation. The total acquisition price amounts to around CHF 475 million.
Swisscom's CEO, Urs Schaeppi: "We are delighted that the takeover could be completed so quickly and would like to thank the shareholders of PubliGroupe for their trust as well as all those involved in the takeover for the smooth process. We are now another step closer to reaching our goal, which is to further develop local.ch."
Once the takeover has been completed, the joint venture between Swisscom and PubliGroupe, Local Group (Swisscom Directories Ltd, LTV Yellow Pages Ltd and local.ch Ltd), will be controlled by Swisscom. This will have no impact on the management and organisation of local.ch. Edi Bähler will remain as CEO of the Local Group. As announced, Swisscom and Tamedia intend to merge their directories business once the takeover has been completed. This will result in the most comprehensive Swiss directory and information platform for companies, private individuals and public bodies. The planned partnership between Swisscom and Tamedia is subject to the approval of the Competition Commission.
Swisscom will sell off PubliGroupe's media participations and evaluate all options for its other participations by the end of the year. PubliGroupe Holding will remain in existence for the time being.
The offer prospectus, the definitive final result and the other publications regarding the offer can be downloaded free of charge in German and French at www.public-takeover.ch. The restrictions on the offer listed there shall apply.