Swisscom cements PubliGroupe takeover [TeleGeography CommsUpdate]
(TeleGeography CommsUpdate Via Acquire Media NewsEdge) Swisscom, Switzerland's largest telco and fixed line incumbent, has announced that its bid to acquire marketing and media group PubliGroupe through a public takeover bid has been successful. Swisscom increased its holding in the company to 98.37% through the offer and the Competition Commission has approved the takeover, which will take place on 5 September. Having purchased more than 98% of the shares in PubliGroupe, Swisscom has requested that the remaining shares be cancelled to give the telco full control of the company: the remaining minority shareholders will receive CHF214 (USD234) per share in compensation. The total acquisition price was given as around CHF475 million.*Swisscom announced its plan to take over PubliGroupe in May this year with the intention of taking full control of the joint venture between the two companies, strategic directories business Local Group – including Swisscom Directories Ltd, LTV Yellow Pages and local.ch. Meanwhile, the operator intends to sell off PubliGroupe's media holdings, including its shares in SNP Societe Neuchateloise de Presse (29%), Sudostschweiz Presse und Print (20%) and well as Rhone-Media (18%).
(c) 2014 PriMetrica, Inc. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
[ Back To TMCnet.com's Homepage ]