The second minority shareholder MTN is also selling its 20.0% stake in BICS to the main shareholder. This means Proximus will hold 100% of the shares in BICS. Timing of closing is dependent on customary regulatory approvals.
Swisscom believes this is the right time to sell its stake as it wishes to invest only in strategically relevant businesses. The commercial contracts between Swisscom and BICS will remain in place. Swisscom handles much of its international telephone minutes business under a supplier relationship with BICS.
Swisscom’s financial outlook for 2021 remains unchanged.
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